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Gold: focus 1900 support

Basic face analysis:

On Wednesday (March 15), the United States inflation was sighed unexpectedly, and PPI data accidentally decreased by 0.1%month -on -month, and the year -on -year increased from 5.7%to 4.6%. The banking crisis caused the global market to panic again, and the risk aversion funds poured into the US dollar and gold. The two occurred rarely at the same time, and the spot gold finally closed up by 0.78%. Regardless of the Federal Reserve's interest rate cut or the banking crisis, the macro environment is good for gold, and the price of gold is expected to further rise after adjustment.

Spot gold 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the spot gold further broke the 1910 mark, and it fell near 1937. MACD appeared on the zero axis secondary volume. The multi -headed trend still dominated. Continue to look up, the above target is near 1920-1940.

Resistance position: 1920 1940

Support bit: 1900 1885

Trading strategy: Drink below 1900, target 1920 1940
Extracting strategy: Bull above 1900, target 1850 1870

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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