Gold: Wide -sorting

Basic face analysis:

On Friday (July 28), the Bank of Japan accidentally relaxed the control of bond yields on Friday, which was considered a raising interest rate in disguise. At the same time, a index that the Federal Reserve was closely released by the Fed showed that the inflation in June further showed signs of cooling. Affected by this, Midea refers to the failure to continue its previous strong rise, slightly fell by 0.04%, and spot gold rose above 1960 US dollars, but this week still fell slightly.

Spot gold xauus four -hour chart

Technical analysis:

Looking at the 4-hour chart, gold stopped falling near 1940, and the MACD volume could shrink under the zero axis. The market entered a wide range of shocks. The upper resistance was 1970-1985, and the support below looked near 1940-1950.

Resistance position: 1970 1985

Support bit: 1940 1950

Trading strategy: Bull above 1940, target 1965 1960

Alternative strategy: Drink below 1940, target 1920 1900