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Gold: See the top and fall
2023-07-22
660
Basic face analysis:
On Friday (July 21), it is reported that the Bank of Japan will tend to maintain yield control next week. The yen has plummeted in a short term. The US dollar index rose again after two weeks, limiting the price of gold, and the spot gold finally closed down 0.31%. Looking forward to the market outlook, the Federal Reserve has nearly 25 basis points at the monetary policy conference next week. It is necessary to focus on the Powell's speech after the Powell Conference.
Spot Gold XAUSD four -hour chart
Technical analysis:
Looking at the 4-hour chart, the gold is further blocked, and the amount of MACD can be maintained on the zero axis to continue to shrink. It supports the attention of 1952-1940, and the upper resistance is 1973-1985.
Resistance position: 1973 1985
Support bit: 1952 1940
Trading strategy: Bull above 1973, target 1985 2000
Alternative strategy: Below 1973, target 1952 1940
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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