CM Trade

Download APP to receive bonus

GET

Gold: Power Movement 1750

2022-11-23
645
Fundamental analysis:

On Tuesday (November 22), in the absence of major data or incidents, the US dollar and US Treasury bond yields were sluggish, and spot gold did not really benefit. As Fed officials will publish a series of speeches and economic data, it will also be announced, and FOMC's latest meeting minutes will also be released later. In the next 24 hours, the volatility of gold price will be further enlarged.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the price of gold fell below the 1750 to confirm the resistance. At the same time, the MACD continued to measure under the zero axis, showing that the market was still weakened. The current pressure was moved down to 1750. Looking at the decline, the goal below is 1730-1715.

Resistance level: 1740.00 1765.00

Support bit: 1730.00 1715.00

Trading strategy: Watch the decline under 1750.00, target 1730.00 1715.00
Alternative strategy: Bullies above 1750.00, target 1750.00 1790.00

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More