Gold: 1820-1840 to form the box

A brief analysis of the fundamentals:

On Monday (June 27), spot gold rose first and then fell. Strong U.S. durable goods orders data in May suppressed the short-term counterattack momentum of gold prices, indicating that even when the Federal Reserve continued to raise interest rates and led to rising concerns about economic downturn, business investment remained stable. Stay strong. The data to a certain extent eased the market's worries that the US economy will soon fall into recession, and also improved the confidence of the Federal Reserve to continue to raise interest rates sharply.

Spot gold XAUUSD 1 hour chart

A brief technical analysis:

Looking at the 1-hour chart, the price of gold rebounded from 1840 and then fell under pressure. Now it has returned to the vicinity of the 1820 mark again, continuing the sideways oscillating trend. The main box is 1820-1840. If it is unable to break through this range in the day, it is still difficult to confirm the trend, and the operation is still mainly based on the high and low volume in the box.

Long-short turning point: 1820

Resistance: 1830.00 1840.00

Support level: 1810.00 1800.00

Trading strategy: Bearish below 1820.00, target 1810.00 1800.00

Alternative strategy: bullish above 1820.00, target 1830.00 1840.00