Gold: 1966 turning into resistance

Basic face analysis:

The probability of the 25 -basis point of the market betting on the market on Tuesday (March 21) has soared. In addition, the US -running sales in the United States in February was greatly recovered. At the same time, due to the further stability of bank stocks, the market risk aversion demand was ebb. , US debt yields have risen, and spot gold suffering from risk aversion demand ebb and US debt yields have risen. The market once fell from daily high to nearly $ 50 and closed down 1.94%. Looking forward to the market outlook, the upcoming Fed's interest rate resolution and Powell speech will have a new round of impact on the trend of gold.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4-hour chart, the spot gold continued to fall again, and the top formed after falling below the 1966 support. The price fell further. MACD began to shrink on the zero axis. The support was transformed into a resistance level in 1966.

Resistance position: 1966 1980

Support bit: 1920 1900

Trading strategy: Drink below 1966, target 1920 1900

Extracting strategy: Bull above 1966, target 1980 2000