Gold: Power Movement 1970

Basic face analysis:

Monday (March 27) The First Citizen Bank acquired $ 72 billion in Silicon Valley Bank assets at a discount of US $ 16.5 billion. At the same time, the US authorities will expand the current emergency loan plan to support banks that are in trouble. The tension of the banking industry was relieved. The spot gold fell 30 US dollars from a height of the day, and the 1950 mark was in danger, and finally closed down 1.1%. Looking forward to the market outlook, although market sentiment has stabilized the room for rising gold prices, the possibility of entering the decline in the United States economy in the second half of this year may become a catalyst for the mid -term price of gold prices.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4 -hour chart, the spot gold further decreased under the 2000 mark. MACD's shrinkage on the zero axis is about to penetrate the zero axis. Below the decline, the target below is near 1935-1920.

Resistance position: 1970 1990

Support bit: 1935 1920

Trading strategy: Bull above 1970, target 1900 2000

Alternative strategy: Below 1970, target 1935 1920