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Gold: Waiting for a breakthrough in the interval

2022-11-30
1341
Fundamental analysis:

Monday (November 29) Fed officials once again made eagle remarks. The probability of raising 50 basis points in December fell from 75%to 66%. The US finger rose three days. At the beginning, it finally closed up slightly by 0.45%. The current market is waiting for Powell's speech. Once a signal of slowing interest rate hikes, the United States refers to the increase in the increase in recent days. On the contrary, it will suppress gold.

Spot gold xauusd 4 -hour chart


Technical analysis:

Looking at the 4-hour chart, the gold price rebounded near 1760 and was blocked and fell. At the same time, the support below was still effective in the 1734 support. MACD remained near the zero axis. The market trend was still lacking. New Direction.

Resistance level: 1760.00 1780.00

Support bit: 1734.00 1715.00

Trading strategy: Watch the decline under 1734.00, target 1720.00 1705.00
Alternative strategy: Bullies above 1734.00, target 1760.00 1770.00

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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