Combined with the hourly chart trend, it can be seen that the gold trend was repeatedly pulled and fluctuated during the Asian session on Monday and Tuesday, indicating that the sentiment in the Asian session was very cautious. However, once it came to the European and American sessions, the market speculated on risk aversion in a disorderly manner, resulting in the market continuing to rise abnormally. The unconventional technical trend requires that this trend rhythm is very difficult to judge, because the risk aversion sentiment is indeed impossible to track and quantify. Today, gold opened higher again. It is obvious that the sentiment in the Asian session is no longer cautious and has become emotional, which will increase the uncertainty risk in the short term. The risk of fundamental changes during the European and American sessions today has increased. In addition, the US CPI number will be released tonight, and the short-term rising channel of gold on the hourly chart has also reached the end. Therefore, it is necessary to guard against the risks brought by the shift in the market focus today.
In terms of operations, given that the market is disorderly taking advantage of the geopolitical situation to speculate on risk aversion, market sentiment is very irrational, and with the release of the US CPI data tonight, we must also prevent the market focus from shifting from risk aversion to the impact of the Federal Reserve's interest rate policy. Therefore, gold still retains the risk of falling under pressure at any time during the day, but under the influence of emotions, it is difficult to judge how much it can rise. On the upside, we can pay attention to the pressure near 2710-2720, and on the downside, we can pay attention to the support retracement of 2690-2685 and 2677-2675.