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Gold: Multi -headed on 1900

Fundamental analysis:

On Monday (March 13), affected by the closure of Silicon Valley Bank's closure in many banks, the market's expectations of the Fed's interest rate hike suddenly suddenly cooled down. The US dollar index once fell below 104 and fell nearly 1%. Continue to facilitate precious metals, and the spot golden market rose nearly 50 US dollars. After breaking the 1900 US dollars, it continued to rise, closing up 2.09%. Looking forward to the market outlook, the market is worried that under the sharp increase of interest rates in 2022, the Silicon Valley Bank is only the "corner of the iceberg" of the entire banking crisis and liquidity crisis. Push gold and continue to rise.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold is breaking with a key resistance, and the bulls are like breaking bamboo. The current strong support is near 1886. At the same time, the short support is concerned about the 1900 line. MACD has more room for the display market on the zero axis. The bullish bullish 1920-1950.

Resistance level: 1920.00 1850.00

Support level: 1900.00 1886.00

Trading strategy: Bullies on 1900.00, target 1920.00, 1950.00
Extracting strategy: Watching down under 1900.00, target 1886.00, 1860.00

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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