Gold fell as scheduled, the market trend operation suggestion

어제Gold remains under pressure today, currently trading around $2,643. Recent market sentiment has been a little cautious, investors are more on the sidelines, Powell will speak at the National Association for Business Economics. The speech was widely seen as further confirmation of the future direction of the Fed's monetary policy. The market is now pricing in a 52 per cent chance of another half-point rate cut in November, up slightly from 50 per cent previously, according to CME Group's FedWatch tool. Clearly, the market's focus is already on whether Powell will release more signals about future rate cuts. Combined with recent technical movements and news, the gold market is very confusing and traders need to exercise extreme caution.

Today's intraday 2664, 2658 continue to add bearish positions, there has been a significant decline, lost the overnight low, meaning that the United States has further downward space; Every rally in the day is actually a response to the 618 division principle; Therefore, today with 2656.5 as a high point, such as this wave of stabilization as a low point, a drawing can be divided to find out the corresponding 618., and then touch the short-term bearish can, according to the current strength, 2650 line may become a difficult to break through, tend to continue to bear below 2650, the target supports 2633-32, 2616, Further down is 2600, 2580-70, etc., the focus is on the position of 2616, corresponding to the daily line near 2622, to see whether the 2622-2616 area can hold this wave of adjustment;

Gold strategy: Recommendation 2646-2647 short, stop loss 2656.5, target 2630-2620;