Gold: Return to high position rising

Basic face analysis:

On Monday (April 3), after an accidental reduction of the market's concerns about long -term inflation and the uncertainty of the Federal Reserve in OPEC+member states, the US finger once rushed to the 103 mark, and then sat on the "vertical roller coaster" and returned to back to back. All the gains and finally closed down within the vomiting day. The spot gold opened low, and finally closed up by 0.79%. Looking forward to the market outlook, OPEC+production reduction is more negative to the market as Yellen said. Gold's supplement shows that the market risk aversion is still lingering. The trend has formed, and the rise is still the main theme.

Spot Gold XAUUSD Hour Map

Technical analysis:

Looking at the 1 -hour picture, spot gold has a stop falling rebound near the callback 1950, and the high -level wide vibration sorting pattern remains unchanged. At the same time, the MACD volume can continue to maintain a slightly reduction state. Making is still the preferred strategy. The support below pays attention to 1955/1970. Looking up at this place, the pressure above 2000, the upper break is higher.

Resistance position: 1990 2003

Support bit: 1970 1955

Trading strategy: Bull above 1955, target 1990 2003

Alternative strategy: Below 1955, target 1940 1920