简体中文
ภาษาไทย
繁體中文
Indonesia
Gold: Focus on CPI data
2022-07-13
1712
A brief analysis of the fundamentals:
On Tuesday (July 12), a fake CPI data for June circulated on major social media showing that inflation is still high, imitating the format of last month's CPI report, with revised dates and figures. Affected by the oolong data, spot gold repeatedly challenged the $1,740 mark, but finally failed to cross the mark, closing below $1,730, and finally closed down 0.43%. Today will usher in the real CPI data. According to the reaction of the major markets last night, if the CPI continues to rise, it is expected to form support for gold in the short term.
Spot gold XAUUSD 1 hour chart
A brief technical analysis:
Looking at the 1-hour chart, the price of gold has repeatedly rebounded above 1740 but failed to break above 1740, and then fell back below 1730. At the same time, the MACD volume can be enlarged below the zero axis, the pivot point continues to move down, and the trend is further short, the first resistance is 1730, the second resistance 1740, bearish mainly under the resistance.
Long and short turning point: 1730.00
Resistance: 1750.00 1765.00
Support level: 1730.00 1700.00
Trading strategy: Bearish below 1730.00, target 1720.00 1700.00
Alternative strategy: bullish above 1730.00, target 1750.00 1765.00
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
