In my last post, I talked about the analysis that CPI data would cause gold to fall back and be overall bullish. Hope you guys took a chance.
Gold market analysis:
Gold fell after yesterday's CPI data was released. However, considering the conflict situation in the Middle East, investors still trust the market of gold, which also prompted gold to rise all the way to 1892.
Technical analysis:
From the moving average of gold, it should go down, but the overall market has led to the rapid rise of gold. At present, we need to pay attention to whether gold breaks through the resistance level of 1900. If it cannot break through the resistance level in the short term, the overall bearish trend will be seen. Long term bullish
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