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Gold: Follow the 1900 mark

2023-06-30
695
Basic face analysis:

Affected by a series of strong US economic data on Thursday (June 29), it once again supported the Fed's interest rate hike point. The spot gold once lost the 1900 mark, and then strongly recovered the decline, and finally closed up 0.04%. Looking forward to the market outlook, as the US finger has strengthened, the price of gold has entered a downward trend in a short period of time.

Spot Gold XAUSD four -hour chart



Technical analysis:

Looking at the 4-hour chart, the gold further fell below the 1900 mark and then repaired. The MACD volume could run under the zero axis. The trend continued the shortness. The resistance was near 1913-1921.

Resistance level: 1913 1921

Support bit: 1900 1880

Trading strategy: Below 1900, target 1880 1860
Extracting strategy: Bull above 1900, target 1920 1935

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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