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Gold: Three days in a row

Basic face analysis:

On Wednesday (August 23), due to the deterioration of PMI data in Europe and the United States, US commercial activities are close to stagnation. %.

Spot gold xauusd four hours

Technical analysis:

Looking at the 4-hour chart, gold exceeds the 1910 mark in a drum. The MACD volume can be measured on the zero axis. The short-term trend is strong, supporting the upper move near 1913-1907, and the resistance is near 1930-1940.

Resistance position: 1930 1940

Support bit: 1913 1907

Trading strategy: Bull above 1913, target 1930 1940
Alternative strategy: Below 1913, target 1907 1895

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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