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Gold: Continue short

2023-06-29
576
Basic face analysis:

Powell reiterated on Wednesday (June 28), saying that it is necessary to raise interest rates twice this year, and it does not rule out continuous interest rate hikes. , Finally closed down 0.32%.

Spot Gold XAUSD four -hour chart



Technical analysis:

Looking at the 4-hour chart, the gold further fell below the 1910 minimum to near 1902. The MACD volume could maintain the capacity under the zero axis, the trend continued the shortness, the resistance was near 1917-1930, and the 1900-1880 below.

Resistance position: 1917 1930

Support bit: 1900 1880

Trading strategy: Below 1917, target 1900 1880
Alternative strategy: Bull above 1917, target 1930 1950

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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