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Gold: Continue to decide under 1680
2022-10-12
1233
Fundamental analysis:
On Tuesday (October 11), the Bank of England intervened again and announced the expansion of the scope of debt purchase operation. In frustration, the United States finger out of the trend of deep V. The spot gold turned around with the rising US dollar and approached the 1660 mark, and finally closed down 0.1%. The US CPI data will be announced on Thursday, which is expected to be the key to the trend of gold prices in the next stage.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the gold price rebounded down again after 1680. MACD learned that the continuous volume was known at the zero axis, showing that there was further low space for the market. At present, the resistance of 1680 was confirmed again. -1640.
Multi -time turning point: 1680.00
Resistance level: 1680.00 1700.00
Support bit: 1660.00 1640.00
Trading strategy: Bullies above 1680.00, target 1700.00 1730.00
Extracting strategy: Watch the fall under 1680.00, target 1660.00 1640.00
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.
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