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Gold: 1731 support
2022-11-24
1124
Fundamental analysis:
The economic data released by the United States on Wednesday (November 23) was mixed, and then the minutes of the Federal Reserve meeting showed that many officials supported slowing down the pace of interest rate hikes. After the announcement of the meeting minutes, it fell to a daily low of 106, while spot gold benefited from the decline in the US dollar and US bond yields, and finally closed up 0.55% in a fluctuating upward trend.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold fell to 1731 to stop and rebounded. The support was confirmed. At the same time, the MACD was shrinking under the zero axis, showing that the market trend was dominated. The upper view is mainly to look at 1765-1785 above the target.
Resistance level: 1765.00 1785.00
Support bit: 1731.00 1715.00
Trading strategy: Watch the decline under 1731.00, target 1715.00 1700.00
Alternative strategy: Bullies above 1731.00, target 1765.00 1785.00
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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