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Gold: Accelerate upward
2023-07-19
690
Basic face analysis:
On Tuesday (July 18), the retail sales data announced in June is not as expected, but the core sales are still strong. After the data is announced, the market bet in July will be the last rate hike in the Fed's tightening cycle. The 15 -month low, the US debt yields set down collectively, the spot golden market once rose nearly $ 30 for a time, and finally closed up 1.22%.
Spot Gold XAUSD four -hour chart
Technical analysis:
Looking at the 4-hour chart, gold has gone up again on the 1950. The amount of MACD can be measured on the zero axis. The upward trend of the market is obvious. The support is near 1963-1970, and the upper resistance is 1990-2000.
Resistance level: 1990 2000
Support bit: 1970 1963
Trading strategy: Bull above 1963, target 1990 2000
Alternative strategy: Below 1963, target 1940 1940
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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