# Enaze: Dive Creates Key Support, Gold Strategy

Originally planned for range consolidation before the Federal Reserve decision, waiting for Powell's speech guidance, but the European session saw a significant plunge, indicating policy news leaked early and the market has already priced in hawkish expectations. After the evening speech lands, there's a high probability of bad news being fully digested and selling facts leading to bottom exploration and rebound. If dovish, it will rebound quickly.

Below, focus on the 618 Fibonacci level at 4791, prepare for the possibility of breaking below 4800. Overall uptrend remains unchanged; currently still in the second wave correction, which when completed will trigger the third wave rally.

Gold is currently maintaining consolidation. Upper attention on 4965-4970 resistance, lower watch 4785-4790 support. Operations mainly focused on rebounds facing resistance to short sell, specific real-time strategies will be updated intraday.

Gold Operation Strategy:
- Long on pullback to 4785-4790 area, stop loss at 4756, target 4958-4970, can continue holding on breakout;
- Short on rebound to 4965-4970 facing resistance, stop loss at 5006, target 4800-4810.

Reminder:

The above analysis is Enaze's personal analysis for reference only and does not constitute any investment advice! $XAU $XAUT ‌ ‌