Opening price 1734.40 Yesterday closing price 1733.06 Lowest price 1726.83 Highest price 1735.35
Gold opened lower
On May 22, the US dollar index rose for the second day in a row. Affected by the intensification of geopolitical tensions, more funds flowed to safe-haven assets. Spot gold once rose more than US $ 10, refreshing its daily high to US $ 1740.29 / oz; With the reopening and the increasing hope of vaccine research and development, the price of gold still recorded a decline this week. The decline in oil prices, worries about economic growth prospects and the tightening of geopolitical relations have caused crude oil to end its longest continuous rising period in more than a year, but this week still recorded an increase. US oil rose nearly 13% this week. Oil rose more than 7%.
Technical Analysis: Gold
Last week, after a sharp reduction in gold, the callback started, and the callback momentum is strong, which will rise to 1743.27 from 1716. It closed at 1733.06 last Saturday. It opened at 1734.40 this Monday, and began to decrease after the start. It is currently in a downward trend and the price is at 1726.45 .
The price is currently below the Bollinger Band track, it is moving downwards and has crossed the lower track. The downward trend is more obvious, and the overall Asian market will be in a downward trend.
MACD presents an opening signal for a downward reversal trend. The DIF probe is downward, about to cross the zero axis, and the downward kinetic energy is turned on. The initial signal of the downward trend is obvious.
Day trade strategy: Generally bearish in Asian session. Observe reversal signals during the European and American session at night.
Resistance: 1730 1740 1745
Support: 1720 1710 1700
Z.com Bullion Analyst: Tony Liu