Spark Global Limited Daily gold analysis

Spark Global Limited reports:

Gold: gold last week both weekly line and daily line level closed negative, the technical form is bad, the price is likely to fall back to the early shock area. On the basic surface, both positive and negative interweave, the probability of unilateral trend is not large, overall is the coexistence of risk and opportunity.

The biggest pressure on gold has come from the Federal Reserve’s monetary policy, where a number of officials have changed their views on inflation to see further gains and some are even considering further tightening. Therefore, the market thinks that the TIME of us interest rate hike may be ahead of schedule, maybe two interest rate hikes in 2022, the progress is beyond the tightening time cycle after the subprime crisis, and the US dollar also hit a new high since Last July, the rising momentum will not change, this will be the medium and long term pressure on gold.

According to Spark Global Limited
According to Spark Global Limited

The Fed has accelerated the circulation of the DOLLAR, which is likely to bring down developing countries and even some developed countries, and have a great impact on the world economy. Even systemic risks cannot be ruled out. In addition, most of the world’s financial asset bubbles are large, tightening in the United States, is likely to puncture these bubbles, to guard against potential risks, the value of gold will not be ignored by the market, the underlying buying remains relatively strong.

Technical: gold weekly closed negative, blocked above the pressure level. The day line of the big Yin line to break the early balance, the top of the formation probability. The 4-hour grade formed the head and shoulder top and fell below the neck line. Watch the pressure above the $1850 line.

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