Gold: Follow 1780 support

Fundamental analysis:

After the Federal Reserve Eagle Himoto and President Bowell Eagle Speech on Friday (December 16), the Bank of England and the European Central Bank also raised interest rates 50 basis points respectively, and experienced the market for the economy after the Eagle "Super Central Bank Week". The concerns of recession deepen. Although more risk aversion funds poured into the US dollar, the gold ETF positions also increased significantly. In the end, under the fall of the United States, the spot gold closed up nearly $ 20. As the expectation of interest rate hikes gradually landed, the market began to hype economic recession expectations, and the price of gold is expected to usher in a rebound window.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, after the price of gold fell below 1780, the price of gold returned to 1790 again. At the same time, MACD was gradually narrowing under the zero axis. It has been transformed into resistance, mainly litter above 1780, and the target above is 1800-1820.

Resistance level: 1800.00 1820.00

Support bit: 1780.00 1765.00

Trading strategy: Watch the fall under 1780.00, target 1765.00 1750.00

Alternative strategy: Bullies above 1780.00, target 1800.00 1820.00