Gold: Support Upper 1970

Basic face analysis:

On Thursday (March 23), the US Treasury Secretary Yellen changed his mouth to say that "the deposit operation is taken before preparing for the need", and the number of people in the latest announcement of the unemployment gold in the United States is still less than 200,000, showing that the US labor market is still strong. Therefore, the US dollar index has recovered some of the loss since the Fed's interest rate hike, and the yield of US debt yields declined due to the market's continued digestion of the Federal Pigeon Pigeon. Return to the US $ 2,000 mark and closes 1.19%. The current environment continues to be more favorable for gold prices, and the upward space of the back market is still worth looking forward to.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4 -hour chart, the spot gold continues the "V" rebound, further higher on the support of 1950. MACD begins to perform a second -stage volume on the zero axis. The current support is moved to near 1970, and the daily day 1970 is maintained. Target 2000-2020.

Resistance level: 2000 2020

Support bit: 1970 1950

Trading strategy: Bull above 1970, target 2000 2020

Alternative strategy: Below 1970, target 1950 1930