Gold: 1970-2012 wide shock

Basic face analysis:

The US Federal Reserve Business Activity Index and the manufacturing output index announced in April (April 24) were not as expected, which caused people to worry about the slowdown in the US economy. It once returned to 1990 US dollars and finally closed up 0.32%. Looking forward to the market outlook, the economic slowdown is concerned that the heating of the prospects of interest rate hikes has hindered the rise of the later US finger and plays a positive role in gold.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4-hour chart, the gold rebounds again at the low 1970 mark, maintaining a wide tideline, the MACD volume can shrink down below the zero axis, the upper resistance is concerned about 2012, and the break is bullish 2030-2045; -1920.

Resistance position: 2012 2030

Support bit: 1970 1950

Trading strategy: Bull above 1970, target 2012 2030

Alternative strategy: Below the drop below 1970, target 1950 1930