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Gold: Back under 1850
2023-02-21
1396
Fundamental analysis:
On Monday (February 10), due to the US President's Day, the US stock market closed, CME's contract closed in advance, and the US bond market was closed. Before this week's upcoming economic incidents and data risks, the price of gold has maintained a narrow range. Weaken gold prices.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold continues to decline after being blocked under 1850. MACD is in a state of volume under the zero axis. The short -term market continues to be weak. The short trend continues. The target below is near 1820-1800.
Resistance level: 1850.00 1865.00
Support bit: 1820.00 1800.00
Trading strategy: Watching under 1850.00, target 1820.00 1800.00
Alternative strategy: Bullies above 1850.00, target 1885.00 1900.00
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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