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Gold: Support Upper 1745

2022-11-25
623
Fundamental analysis:

Affected by American Thanksgiving on Thursday (November 24), US stocks and US bonds closed, precious metals and crude oil contracts ended in advance, and the trading was light within day. The European Central Bank will reveal that it will slow down but will not stop raising interest rates. The US dollar index continues to fall, lost 106 mark, hit a three -month low, closed down 0.23%to 105.85, the spot gold forced $ 1760, closed up 0.35% Essence

Spot gold xauusd 4 -hour chart


Technical analysis:

Looking at the 4-hour chart, the price of gold starts the rebound on the support of 1731. At the same time, MACD wears a zero axis, showing that the market trend is further strengthening. Currently, the support is near 1745. 1785.

Resistance level: 1765.00 1785.00

Support bit: 1731.00 1715.00

Trading strategy: Watch the decline under 1745.00, target 1731.00 1715.00
Alternative strategy: Bullies above 1745.00, target 1765.00 1785.00

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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