Gold: 1782 Continues to Shock

A brief analysis of the fundamentals:

On Thursday (August 11), the U.S. PPI was lower than expected and the previous value, which together with the previous day’s CPI showed a signal that inflation peaked, but Fed officials maintained a hawkish view. There are still doubts about turning pigeons. Spot gold is approaching the 1800 mark, but it failed to break above, and then adjusted downwards, finally closing down 0.12%. Looking forward to the market outlook, the gloomy global economic outlook and the tense geopolitical situation support the price of gold, but the pressure of policy tightening is still there, and gold may enter shocks in the short term.

Spot gold XAUUSD 4-hour chart

A brief technical analysis:

From the 4-hour chart, the price of gold rose again and then fell back, but it still ran above 1782. It is difficult to turn empty before the support is broken. At the same time, the MACD shrinks above the zero axis, indicating that the market may enter a shock, and it will be $1782 within days. Above can be maintained bullish, the target above is 1800-1820, and below 1782, see 1770-1755

                                                          

Long and short turning point: 1782.00

Resistance: 1800.00 1820.00

Support: 1782.00 1770.00

Trading strategy: bullish above 1782.00, target 1800.00 1820.00

Alternative strategy: bearish below 1782.00, target 1770.00 1755.00