Gold still fluctuated downwards in the short-term one hour. The short-term continued to be under pressure from the downward trend line. Gold bulls were suppressed by the bears after a wave. The resistance of the gold trend line has now moved down to around 2158, which will continue before the Federal Reserve interest rate decision. The rebound is empty. There is a high probability that the Federal Reserve will keep interest rates unchanged this time. In fact, the market has also reacted to expectations of an interest rate cut in 2024. Gold has been strong before. On the one hand, it is a safe haven, and on the other hand, it may rise again due to expectations of interest rate cuts. The kinetic energy is not very sufficient. If gold continues to fall below new lows in the U.S. market, then a new band of gold’s decline will begin. The calmer the water, the easier it is to stir up bigger waves. Gold has been going back and forth in the past two days, up and down, waiting for the Federal Reserve’s interest rate decision to break the situation. After choosing the direction of breakthrough tonight, the trend market will continue, and the trend will continue. The band market is right in front of us, we will wait and see.
