U.S. dollar and U.S. bonds soar again, gold prices are resilient

A brief analysis of the fundamentals:

On Wednesday (May 18), the market assessed the hawkish speeches of several Fed officials and the prospect of economic growth. The dollar and U.S. bonds were pushed up by safe-haven demand. Spot gold continued to fluctuate and closed at $1,815.52 per ounce. As Fed officials continue to release hawkish signals, the dollar's suppression of gold prices continues. Under the resonance of multiple negative factors, the probability of gold prices continuing to fluctuate at a low level is high.

Spot Gold XAU 4-hour chart

A brief technical analysis:

Looking at the 4-hour chart, the price of gold continues to fluctuate at a low level, with obvious signs of sideways. The moving average system has become the upper resistance, 1815 has become the watershed between long and short, the MACD green column has shortened, and the RSI indicator has flattened.

Long and short turning point: 1815.00

Resistance: 1840.00 1865.00

Support: 1790.00 1765.00

Trading strategy: bearish below 1815.00, target 1790.00 1765.00

Alternative strategy: bullish above 1815.00, target 1840.00 1865.00