Gold: 1820 turns to support

Fundamental analysis:

On Tuesday (February 28), France and Spain inflated unexpectedly in February. The French CPI rose 7.2%year -on -year, reaching a record high. The Spanish CPI rose 6.1%year -on -year. There is the highest level since the record. Subsequently, a series of economic data in the United States was less than expected. The spot gold trend fell first and then rose by 0.54%. In February, the finals fell more than 5%, which set the worst month since mid -2021. With the periodic pressure suppression of the United States, the price of gold is expected to usher in a rebound repair in the short term.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold exceeded 1820 after the potential near 1805. MACD has a shrinking state under the zero axis, and the shape has a small double bottom trend. The current 1820 strong resistance has been converted into support. Looking near 1840-1860, if it falls below 1820, look around 1805-1790.

Resistance level: 1820.00 1840.00

Support level: 1805.00 1790.00

Trading strategy: Bullies above 1820.00, target 1840.00 1860.00

Extracting strategy: Flinds above 1820.00, target 1805.00 1790.00