CM Trade

Download APP to receive bonus

GET

Gold: downward continuation

2023-08-03
474
Basic face analysis:

On Wednesday (August 2nd), the number of people in the United States, known as "small non -farm" in July, recorded 324,000 employment in July, and the market is expected to be 185,000, which exceeded expectations for the fourth consecutive month. Data is also strong. The 1940 mark was lost in the spot gold market, and finally closed down 0.49%.

Spot gold xauus four hours



Technical analysis:

Looking at the 4-hour chart, the gold rebound near 1955 continues to be blocked and falls. The MACD volume can run in the zero axis. The market trend continues the shortness. The resistance is shifted to 1955-1970. The support below is near 1920-1900.

Resistance position: 1955 1960

Support bit: 1920 1900

Trading strategy: Drink below 1955, target 1920 1900
Extracting strategy: Bull above 1955, target 1970 1985

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More