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Gold: 1767 to see bullish up

2022-11-16
770

Fundamental analysis:

On Wednesday (November 16), due to the unexplained economic data of the United States, the prediction of inflation and the slow interest rate hikes of the Federal Reserve fell more than 1%in the US dollar index to reach a new three -month low, but the news of the explosion of missile explosions in Poland After it was reported, the US dollar index rose to rise by 107 and refreshed the high level above 107.10. The spot gold trended shocked, multiple increases exceeded the 1780 mark, and finally closed up 0.38%.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the price of gold continues to rise above the $ 1750, up to a maximum of $ 1780. At the same time, MACD continues to maintain the volume status above the zero axis. Continue to look at the bullish above this position, the target above 1785-1800

Resistance level: 1785.00 1800.00

Support bit: 1767.00 1750.00

Trading strategy: Bullies above 1767.00, target 1785.00 1800.00
Qualification Strategy: Watch the decline under 1767.00, target 1750.00 1740.00

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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