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Gold: 1760 support

2022-12-01
1517
Fundamental analysis:

On Wednesday (November 30), the Federal Reserve President Powell's speech confirmed that the pace of rapid and tightening will be slowed down at the conference next month. Essence At present, U.S. inflation is still as high as 7.7%. Under the significant decline in inflation, the US dollar still needs to be vigilant. Next, you can pay attention to the PCE price index and non -agricultural employment data. pressure.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4-hour chart, the gold price rose strongly and broke the 1760 resistance. The current resistance has been converted into support. At the same time, MACD began to measure above the zero axis, showing that the market is expected to further rise. 1800.

Resistance level: 1785.00 1800.00

Support bit: 1760.00 1740.00

Trading strategy: Bullies above 1760.00, target 1785.00 1800.00
Extracting strategy: Watch the decline under 1760.00, target 1740.00 1730.00

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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