Gold: Build a small bottom
Basic face analysis:
On Tuesday (August 22), spot gold was still hovering near the five -month low. The European market once broke through the 1900 mark. Then it vomited all the increases and rebounded slightly at the end, and finally closed up 0.18%. Before the Jackson Hall Global Bank Annual Meeting, various small news in the market began to ferment and spread, and the trend of gold prices entered a turbulent.
Spot gold xauusd four hours
Looking at the 4-hour chart, the gold is consolidated near the 1900 mark. The amount of MACD can shrink down under the zero axis. The short-term trend is expected to turn long. Supporting attention near 1885-1890 below, resistance to the above 1910-1920.
Resistance position: 1910 1920
Support bit: 1885 1890
Trading strategy: Bull above 1885, target 1910 1920
Alternative strategy: Below of 1885, target 1870 1860
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