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Gold: The disadvantaged rebound above 1642
2022-10-19
1291
Fundamental analysis:
With the short -term fundamentals on Tuesday (October 18), 112 lost 112 in the US dollar index plate, a slight closing of 0.054%, and the spot gold finally closed up by 0.11%. In recent months, under the expected expectations of the Federal Reserve ’s interest rate hikes and the suppression of the global economy's falling concerns, the price of gold has not been supported by the risk aversion of the Russian and Ukraine situation. Policies continue to suppress gold.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 1 -hour chart, the price of gold rebound above 1642, but the intensity is slightly weak. The short -term fluctuations enter the narrow range. The MACD is slightly capable under the zero axis, showing that the market is supporting the weak rebound. Look at the rebound above, look at 1660-1670 above the target, falling below 1642 to see.
Resistance level: 1660.00 1670.00
Support bit: 1642.00 1630.00
Trading strategy: Watch the fall under 1642.00, target 1660.00 1670.00
Alternative strategy: Bullies above 1642.00, target 1630.00 1620.00
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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