Gold bottomed out and rebounded overnight. The CPI data affected the market to announce that the negative real value was more than 9%. It was greater than the previous value, indicating that the higher the inflation, the more gold and silver. The gold opened and formed a large amount of main funds. A line of lows. Gold trading and this week's trading will pay close attention to whether there is a second confirmation of the bottoming pattern below 1710. After the bottoming pattern exists, the gold price will continue to rise further. The technical gold daily chart shows that the gold price is still running at the end of the 5-wave structure. Focus on the adjustment range of 1725/1745 in the day, and look at the short-term support of 1730/1726 and strong support of 1710/1698. Short-term resistance 1748/1753 strongly resists 1760/1774.
According to the analysis and judgment of wave theory: since the high point of 2070 on March 08, 2022, the first wave fell to 1890, the second wave rebounded to 1998, the third wave fell to the low of 1787, and the fourth wave rebounded to 1878. At present, the gold price is running at a big 5 Even if there is a wave adjustment wave, it is necessary to wait until the 5-wave structure is completely completed, and then a new round of impulsive wave rebounding in response to the decline since the high of 2070 can be started. So what is the target low point of the big 5-wave structure operation? According to the volatility ratio and the support of the weekly chart, the first concern is the 1733 trend line support level, and then 1722/1700/1667. The 5-stage pattern of the adjustment wave 12345, the overall adjustment also takes time. The decline from 2070 to the current close to $350 is in line with a medium-term fluctuation of gold. Can the price of gold continue to be lowered? The teacher will do a calculation of the volatility ratio for everyone: the high point of the 4th wave is 1878. Since the start and fall of the 5th wave have been lowered, this is only the last drop, and there needs to be a rebound 5 before the last drop. The wave neutron wave 4, and then the sub wave 5-5. The downward adjustment of wave 3 from 1998 to 1787 is 211 US dollars, and the downward adjustment of wave 1 is US $180 from 2070 to 1890, then the 4th wave reverses the high point of 1878 and then turns to 5th wave and continues to decline. According to the calculation, 1878-180=1698, 1878 -211=1667. The fifth wave is usually smaller than the third wave and close to the first wave, that is, 1698 to 1667 will be the final limit of the 5th wave, which can be regarded as the end point since the 2070 adjustment wave fell!
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