Gold: Resistance Follow 1850

Fundamental analysis:

After the non -agricultural and CPI data exceeded expected on Thursday (February 16), the monthly PPI monthly rate in the United States increased by 0.7%, the largest increase since June, exceeding the expected 0.40%. Highlighting the continuous inflation pressure in the United States. Affected by this data, under the pressure of rising US debt yields and strong US dollars, spot gold once fell below the 1830 mark, and then rebounded, and eventually closed up slightly by 0.02%.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold is blocked under 1850, and the MACD is in a state of volume under the zero axis. The short -term market continues to be weak. The short trend continues. The current resistance is concerned. Near 1820-1800.

Resistance level: 1850.00 1865.00

Support bit: 1820.00 1800.00

Trading strategy: Watching under 1850.00, target 1830.00 1820.00

Alternative strategy: Bullies above 1850.00, target 1885.00 1900.00