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Gold: Continue the decline

Basic face analysis:

A series of super -expected data released on Wednesday (September 6) shows that the demand and overall economy of American consumers are still strong, but inflation may be at high for a long time. The US debt yields collectively risen, spot gold has been hit again, and it has recorded a decline in 5 consecutive trading days.

Spot gold xauusd four hours

Technical analysis:

Looking at the 4-hour chart, gold has fallen further to near 1915. The market continues to fall. The resistance is concerned about 1923-1930, and supports attention near 1905-1895.

Resistance position: 1923 1930

Support bit: 1905 1895

Trading strategy: Below 1923, target 1930 1945
Extracting strategy: Bull above 1923, target 1905 1895

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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