Gold analysis on Wednesday: long-short boundary near 2645

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Gold analysis on Wednesday: long-short boundary near 2645
As shown in the figure:
Four-hour cycle: 2620-2660 is still the current oscillation range
Oscillating center: 2640-2645 range (ray A: the most effective pressure line at present)
Oscillating space: Today, there will be a general direction around 2645 (yellow circle: the current convergent oscillation range, there is not much area, which means that a new trend is about to break out)
The current trend of gold is converging and oscillating around 2640-2645. Still focus on the trend performance around 2640-2645.
Strategy:
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Bull thinking:
Bottom support: 2635-2640
Breaking pressure: 2650-2655
Upward target: 2655-2670-2680
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Bear thinking:
Top pressure: 2650-2655
Breaking support: 2640-2635
Downward target: 2630-2620-2600-2580

As the Asian market gradually weakens, once it breaks below 2635, gold is likely to fall in volume today, and stop loss must be set at the same time
Today's gold thinking: short at highs
Policy: (Gold is about to explode in a big market, and risk control must be done well)
The explosive market is about to happen! Powell's speech leads these major events to come. There are many risks in financial market events on this trading day, including the US ADP employment report, the US ISM service industry PMI, the Federal Reserve Beige Book, and the speech by Federal Reserve Chairman Powell, which are expected to trigger major market movements.

1: The US ADP employment change data for November will be released. This data is known as the "small non-agricultural": the US ADP employment is expected to increase by 150,000 in November. Previously, the US ADP employment increased by 233,000 in October. If the data is higher than expected, it may rekindle optimism about Friday's non-agricultural employment data and lead to lower gold prices.
2: The US ISM non-manufacturing purchasing managers' index (PMI) for November will be released, expected to be 55.5.
3: Federal Reserve Chairman Powell will be invited to be interviewed at the New York Times DealBook/Summit conference.
In his last speech in November, Powell made hawkish remarks, saying that the Fed did not need to rush to cut interest rates because the job market was solid and the inflation rate was still above the 2% target. Federal Reserve Chairman Powell said at an event at the Dallas Fed that the U.S. economy has not sent any signal that the Fed needs to cut interest rates as soon as possible, and the current strong economy gives the Fed the ability to make cautious decisions.

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