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Gold: Follow 1695 support
2022-11-10
1595
Fundamental analysis:
On Tuesday (November 9), as the market is expected to increase interest rates in December in December, the latest market pricing tends to raise interest rates 50 basis points instead of 75 basis points. The highest spot gold rushed to nearly 1722 and fell, a slight closure of 0.35%. Following the US CPI data today, the market is still possibly of reversing the Fed's expectations.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the gold price rose to 1722 again to nearly 1700, but MACD maintained a strong volume state above the zero axis, indicating that the poly head momentum still has room for further strengthening. The support has been concentrated around 1695, and the support continues to watch at the daily position, with target 1720-1735.
Resistance level: 1720.00 1735.00
Support bit: 1695.00 1680.00
Trading strategy: Bullies above 1695.00, target 1720.00 1735.00
Extracting strategy: Watch the decline under 1695.00, target 1680.00 1660.00
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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