Opening price 1715.54 Last closing price 1714.08 Lowest price 1707.36 Highest price 1720.70
Gold has a sharp upward trend
On April 23, spot gold was slightly under pressure, but the overall remained at a seven-year high. Gold futures rebounded, and with the turmoil in the oil market and continued volatility in commodities and the stock market, investors bet that governments around the world would launch further stimulus measures. Driven by safe-haven buying, the price of gold recorded the largest increase in the past two weeks in the previous trading day, with a cumulative increase of 14% this year. In recent years, the correlation between the investment demand of gold and the price of gold is very high. The Bank of America raised its 18-month gold price forecast to $ 3,000 per ounce, which is up more than 50% from the current level.
Technical Analysis: Gold
Since the downward correction of the trend last week. Yesterday, gold has risen sharply. It opened higher at 1715.54 in early trading today. At 1713, the market has maintained a relatively high position. Today, it mainly observes rising signals to prepare for a new round of upward trends.
On the 1-hour chart, the current relative relationship between the price and the Bollinger Bands is more optimistic, and it is in the range where the mid-track line is climbing upwards. However, there are signs of narrowing of the track exposure, and the market may temporarily enter a closed shock. The main observation is the signal of breaking the upper rail line Sanlianyang.
On the MACD, the upward kinetic energy is more obvious. At night, observe the corresponding relationship between the DIF line and the zero axis.
Day trade strategy: overall bullish, pay attention to trend signals at night.
Resistance: 1720 1730 1740
Support: 1705 1700 1690
Important information during the day:
2030 Number of people claiming unemployment benefits at the beginning of the week as of April 18 (ten thousand)
Z.com Bullion Analyst: Tony Liu: Tony Liu