Gold price is slightly going downwards

Opening price 1700.97 Last closing price 1700.61 Lowest price 1695.66 Highest price 1703.71

Gold price is slightly going downwards

On Monday, spot gold once rose nearly 16 US dollars, refreshing the daily high to 1717.67 US dollars/ounce. However, due to the renewed fears of international trade frictions, the US dollar has risen, and the rise in oil prices has driven US stocks to rebound. The gold price fell back to around 1702 US dollars per ounce and fell below the 1700 US dollar mark on Tuesday. The market is currently cautious about the possibility of an outbreak. At the same time, the United States will raise a record debt of nearly US $ 3 trillion in the second quarter to fight the epidemic, which may exacerbate the country’s debt pressure and focus on the US ISM non-manufacturing PMI.

Technical Analysis: Gold

Today, the price of gold is slightly lower, and the overall operation is stable in the shock. Asia opened at 1,700 integers in early trading and is still moving in this range, without much change and trends.

During the turbulence, the price moved within the Bollinger band track and is currently climbing upwards on the lower rail. Bollinger Band was open and peaceful, showing no signs of opening. The price will basically move between 1695-1710 before the European and American time in the evening. After 8 o’clock at night, pay attention to the signal indicating whether there is a trend.

There is no kinetic energy on the MACD, and there is no direction from the buyer or seller. Pay attention to the key position of the relationship between the DIF and the zero axis.

Day trade strategy: shock market trading rules, Bollinger Bands intra-track trading, pay attention to observe the signals generated by the trend.

Resistance: 1710 1715 1720
Support: 1690 1685 1680

Z.com Bullion Analyst: Tony Liu