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Gold: wide range of finishing
2023-06-17
1038
Fundamental Analysis.
The weekly gold survey released on Friday (June 16) showed that Wall Street analysts and retail investors were less confident in gold as the market continued to digest the Federal Reserve's latest monetary policy decision to leave rates unchanged but hint at the possibility of two more rate hikes later this year. Spot gold closed marginally higher by 0.02%, after a weekly cumulative loss of 0.30%.
Spot gold XAUUSD four-hour chart
Technical analysis.
4 hours chart, gold maintained above 1950, MACD volume above the zero axis of a small release, the market continues to be a wide range of finishing, support concerns 1950-1938, above the pressure 1970-1983.
Resistance level:1970 1983
Support level:1950 1940
Trading strategy: 1950 above bullish, target 1970 1983
Alternative strategy: 1950 below bearish, target 1940 1920
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