Continue to buy gold at low prices: Target 3800+
1: The market is betting on a 90% probability of another Fed rate cut in October.
2: The radically dovish stance of new Fed Governor Milan (who previously advocated for a 50 basis point rate cut) reinforces this expectation.
3: The Gold ETF (518880) rose 1.21% on the day, with a trading volume of nearly 4 billion yuan, indicating continued capital inflows into the gold market.
From a technical analysis perspective, gold is currently in a strong upward trend, but key resistance and support levels need to be monitored.
Key Resistance and Support Levels:
Upper Resistance:
$3,790
Stronger Resistance: $3,800 (a psychologically significant round-figure level)
Lower Support:
S1: $3,750 (short-term top-bottom reversal level)
S2: $3,735-3,740 (key support range)
💡 Today’s Focus and Trading Strategies
Today, Federal Reserve Chairman Powell will deliver a speech on the economic outlook, and the US will release data such as the manufacturing PMI.
These events could trigger significant market volatility and serve as a key juncture for validating expectations of a rate cut.
Trading Strategies:
Technical analysis generally suggests a bullish trend, but caution is advised when chasing higher prices.
Buy on dips.
Long-term strategy: Watch for pullbacks to support around $3,750-3,735 (aggressive) or $3,713-3,720 (conservative).
BUY：3740-3750
SL:3735
TP:3780-3800
BUY：3715-3720
SL:3705
TP:3750-3780-3800+
