Gold: 1642 support confirmation

On Tuesday (October 26), due to the differences in the internal interest rate hikes within the Fed, the risk and emotion improved. The minimum yield of U.S. debt fell to 4.05%, and the increase since last Thursday. The spot golden market rose by 1660 and closed up 0.31%. Prior to the Federal Reserve Conference, Gold is expected to start to rebound the window, and the Fed's economic forecast and interest rate hike path guidance will become the catalyst of the next trend of gold.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold has obtained a stop falling rebound near 1642. The support was confirmed again. At the same time, MACD began to measure above the zero axis, indicating that the market was possibility of further higher. Target 1670-1680.

Resistance level: 1670.00 1680.00

Support bit: 1642.00 1622.00

Trading strategy: Bullies above 1642.00, target 1670.00 1680.00

Extracting strategy: Watch the decline under 1642.00, target 1622.00 1600.00