Gold: Support Upper 1910
2023-07-04
641
Basic face analysis:
On Monday (July 3), the PMI data of the US manufacturing industry was less than expected. The huge amount of money poured into the gold price once increased sharply. After touching the 1930 mark, the tail spit was vomited, and finally closed up 0.17%. The market will usher in a test of major data this week, the most important of which are the US non -agricultural employment reports and the Minutes of the Federal Reserve conference.
Spot Gold XAUSD four -hour chart
Technical analysis:
Looking at the 4-hour chart, gold continues to rebound above the 1900 mark. The MACD volume can wear zero axis, the trend continues to rebound, supports 1910-1900, and resistance is 1940-1950.
Resistance position: 1940 1950
Support bit: 1910 1900
Trading strategy: Bull above 1910, target 1940 1950
Alternative strategy: Drink below 1910, target 1900 1880
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