Opening price 1687.11 Yesterday closing price 1686.20 Lowest price 1682.29 Highest price 1691.86
Gold short-term fell below 1660
On Tuesday, the crude oil market June WTI futures contract triggered three meltdowns on Tuesday, causing US stocks to plunge. At the same time, it also aggravated the market’s worries about the economic recession, and the liquidity demand for the US dollar rebounded again. Affected by this, gold once fell below 1660 in the short term US dollars. At the same time, gold has a commodity attribute is also one of the factors that are dragged down. However, due to the continued downward pressure on the global economy, and the market expects inflation to rebound with the unprecedented stimulus measures of various countries, gold then rebounded quickly. At the same time, from other gold markets, the pound-denominated gold remained near the historical high
Technical Analysis: Gold
Gold continued to fall yesterday, once fell below the 1660 position. Today opened higher at 1678.11 in early trading, and then slightly lowered, currently at 1683.29.
1 hour chart. After the sharp decline, the callback momentum is slightly insufficient, and the market is currently in the upswing phase. The Bollinger Bands are currently in a closed trend after the exposure is enlarged. It can be clearly seen that the downward trend has not expanded and continued. At present, the price is moving on the middle track, the market has insufficient kinetic energy, and there is no significant price change.
MACD can determine that the market’s downward momentum has been absorbed and is in a balanced stage. Need to pay attention to the relationship between DIF and zero axis. The night price will likely increase in volume.
Day trade strategy: Long positions above 1685, and long positions above 1700.
Resistance: 1690 1700 1710
Support: 1685 1680 1670
Important information during the day:
22:00 EIA crude oil inventory changes in the United States as of April 17 (10,000 barrels)
Z.com Bullion Analyst: Tony Liu: Tony Liu