Opening price 1746.86 Yesterday closing price 1743.67 Lowest price 1744.54 Highest price 1751.63
Gold prices rose sharply
This week (May 18 to May 24) economic data is mainly concentrated on the initial value of PMI in various countries. The speech of Fed officials is still the focus. Although negative interest rates are expected to cool down, it does not rule out the use of other loose tools, which will be possible. Further push up the price of gold. In addition, the oil market rebounded sharply last week. In the context of production reduction and demand recovery, the influence of inventory data has increased, and it is worth further attention. At the same time, the price of gold has risen sharply and has reached a high of 1751 as of Monday.
Technical Analysis: Gold
Last week, the price of gold rose sharply, and the price rose from the 1700 first-line to the high of 1758 on Monday. At present, the indicator indicates that the upward momentum is still sufficient, and it is necessary to pay close attention to the zooming of the Bollinger Bands’ exposure during the day. In the strong upward or downward market, it is necessary to pay attention to control the profitable positions.
Day trade strategy: long positions are long, and profitable long positions are recommended to be closed to collect profits. Below 1730, you can short position. Bearish below 1700.
Resistance: 1760 1770 1780
Support: 1750 1740 1720
Important information of the day:
2300 Bank of England Commissioner Teng Lei Luo made a speech on anti-epidemic measures.
Z.com Bullion Analyst: Tony Liu