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Gold: Break the position continues to fall

2023-08-15
587
Basic face analysis:

Monday (August 14), because the previous PPI was slightly higher than expected to provide more ammunition for the Federal Reserve Eagle to claim to raise interest rates again. The fourth trading day rose, and the 10 -year Treasury yield, which is known as the "anchor of the Global Asset Price Price", rose to 4.209 %. It was the highest level since November 8 last year. , Refresh a new low since July 6, and finally closed down 0.32%.

Spot gold xauusd four hours



Technical analysis:

Looking at the 4-hour chart, gold further fell below the 1910 mark. The amount of MACD can continue the zero axis. The trend maintains the short market. The resistance follows the nearby 1913-1920 and supports 1900-1880.

Resistance position: 1913 1920

Support bit: 1900 1880

Trading strategy: Below 1913, target 1900 1880
Alternative strategy: Bull above 1913, target 1920 1930

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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