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Gold: The resistance is in 1756
2022-11-22
1584
Fundamental analysis:
Monday (November 21) As the eagle statement issued by the Federal Reserve officials continued to increase, the market was expected to be positive for the Fed's interest rate resolution in December. Stoping and rising, the spot gold fell more than 1%, and eventually lost $ 1740 and closed down 0.72%. Looking forward to the market outlook, more Fed officials will speak this week. Once the recent eagle statement is added, the price of gold may weaken again.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold fell after falling below 1756. At the same time, MACD began to measure under the zero axis, showing that the market was still weakened. The current pressure level continued to pay attention to near 1756, and the drop was continued under this position within the day. Mainly, the goal below is 1730-1715.
Resistance level: 1756.00 1780.00
Support bit: 1730.00 1715.00
Trading strategy: Watch the decline under 1756.00, target 1730.00 1715.00
Alternative strategy: Bullies above 1756.00, target 1780.00 1800.00
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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