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Gold: High -level diving

2023-07-28
627
Basic face analysis:

On Thursday (July 27), the US GDP unexpectedly accelerated in the second quarter of the United States, and the growth rate of the order of durable products in June also far exceeded expectations, increasing the expectations of "soft landing". Will not raise interest rates further. Affected by this, the United States refers to the stop falling and rebounded. The spot gold once fell to nearly $ 1940, a decline of nearly 40 US dollars higher than the day, closing 1.37%.

Spot gold xauus four -hour chart



Technical analysis:

Looking at the 4-hour chart, gold fell near 1950 under 1980. The amount of MACD can be decentralized under the zero axis. The short-term trend is empty. The upper resistance is 1960-1965. The lower support is around 1940-1920.

Resistance position: 1965 1980

Support bit: 1940 1920

Trading strategy: Bull above 1940, target 1965 1960
Alternative strategy: Drink below 1940, target 1920 1900

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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