Gold: Look at the decline under 1770

Fundamental analysis:

On Thursday (November 17), many Federal Reserve officials said that the interest rate hikes were far from ending, and the number of people in the United States first invited unemployed gold last week will not increase and fall, close to the historical low, highlight the strong employment market, enhance the reasons for interest rate hikes, the US dollar The index and US debt yields both risen, spot gold declined, falling below the 1760 mark during the session, and finally closed down 0.74%.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the high price of gold has fallen to break the consolidation range. At the same time, the MACD continues to shrink sharply above the zero axis, showing that the market is possibly weakened. The current pressure level has been moved near 1770. , Bottom target 1750-1730

Resistance level: 1770.00 1785.00

Support bit: 1750.00 1730.00

Trading strategy: Bullish above 1770.00, target 1785.00 1800.00

Extracting strategy: Watch the decline under 1770.00, target 1750.00 1740.00