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Gold: 1734 support

2022-11-28
1435
Fundamental analysis:

On Friday (November 25), due to the dull trading of Thanksgiving holidays, the US dollar index rose exceeded 0.5%within the day, but the full week fell nearly 1%. The spot gold fluctuated with the rise and fall of the US dollar. By 1745, then rose above 1750, and finally closed down 0.13%. Powell will give a key speech this week. At this time, it is only two days before the Federal Reserve's December policy conference. Powell may consolidate the market's expectations of the Fed in December to slow down interest rates. At that time, the price of gold is expected to appear new. The direction.

Spot gold xauusd 4 -hour chart


Technical analysis:

Looking at the 4 -hour chart, the price of gold starts the rebound on the support of 1734. At the same time, the MACD remains near the zero axis, showing that the market trend is still lacking in a clear direction. The current support is mainly concentrated near 1734. 1765-1785.

Resistance level: 1765.00 1785.00

Support bit: 1731.00 1715.00

Trading strategy: Watch the decline under 1734.00, target 1720.00 1705.00
Alternative strategy: Bullies above 1734.00, target 1760.00 1770.00

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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