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Gold: low position

2023-06-27
732
Basic face analysis:

Monday (June 26) Russia's Mercenary Group Wagner's attempt to rebel, the geopolitics uncertainty increased, and the price of gold has risen slightly. It is expected to cool down, the yield of US dollars and US debt fell slightly, providing support for gold prices. The spot gold once broke 1930 US dollars but failed to stand firm, and finally closed up 0.11%.

Spot Gold XAUSD four -hour chart


Technical analysis:

Looking at the 4-hour chart, the gold rebounded to the top of 1930 and then fell again. The MACD volume could shrink under the zero axis. There is a shirk space in the short-term multi-headed.

Resistance position: 1940 1950

Support bit: 1920 1910

Trading strategy: Bull above 1910, target 1940 1950
Alternative strategy: Drink below 1910, target 1900 1880

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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