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Gold: Look at the decline under 1756
2022-11-21
1528
Fundamental analysis:
A number of Federal Reserve officials recently made eagle remarks on Thursday (November 18). The US dollar recovered slightly from the recent decline, and the price of gold was suppressed to a certain extent. Gold has fallen for three consecutive days, and the high point since mid -August has retracted a little, temporarily stopped the rise since the beginning of the month. Looking forward to the market outlook, if the Fed will maintain a high level of interest rates in the next few months or longer, the concentrated outbreak of the debt crisis will occur worldwide next year, and it is expected to provide gold with a steady stream of risk aversion support.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold fell below the 1770 rebound again. At the same time, MACD continued to shrink sharply on top of the zero axis, showing that the market was still weakened. Continue to look at the drop, the goal below is 1740-1730
Resistance level: 1756.00 1780.00
Support bit: 1740.00 1730.00
Trading strategy: Bullies above 1756.00, target 1780.00 1800.00
Qualification Strategy: Watch the decline under 1756.00, target 1740.00 1730.00
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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