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Gold: Low shock

2023-08-22
476
Basic face analysis:

On Monday (August 21), because investors waited for Powell's speech on Friday at the Jackson Hall Annual Conference, spot gold maintained a low shock, and the highest touched at 1898.83, and finally closed up 0.25%. On Friday (August 25), the Federal Reserve President Powell delivered a speech at the annual meeting of the Global Central Bank of Jackson. The market is concerned that Powell's speech will exacerbate the recent sharp rise in US debt yields, and then suppress the decline in gold prices.

Spot gold xauusd four hours


Technical analysis:

Looking at the 4-hour chart, the gold is maintained under the 1900 mark. The amount of MACD can continue to continue the amount of uniformly under the zero axis. The trend maintains the short market. The resistance continues to pay attention to near 1900-1913, and supports 1880-1860 below.

Resistance position: 1900 1913

Support bit: 1880 1860

Trading strategy: Below 1900, target 1880 1860
Extracting strategy: Bulling above 1900, target 1913 1925

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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