Opening price 1728.64 Yesterday closing price 1726.38 Lowest price 1725.25 Highest price 1733.03
Gold prices stabilized and rebounded
On May 25, the US dollar index retreated earlier and held steady at 99.78; during periods of market turmoil and political uncertainty, the dollar ’s performance was smoother and more risk-averse assets; the price of gold fell back in the quiet holiday trading, because Market risk appetite has picked up, and some investors have taken profits. Oil prices rose again, and US oil once rose 2.8% to $ 34.18 per barrel, approaching the six-week high touched last Friday. There are signs that the oil market is preparing for economic recovery.
Technical Analysis: Gold
Gold experienced a sharp decline yesterday and stabilized and rebounded. It opened at 1728.64 in early trading today. It can be seen on the candlesticks that the upward momentum is still slightly weak. It is necessary to further observe the indicator signal whether the Asian session can lead a new round of rising prices. Currently at 1731.73.
On the 1-hour chart, the price shows an upward trend, and the trajectory on the Bollinger Band track moves slightly, and the opening is slightly open, and the trend of rising kinetic energy is more obvious. At present, the price has made a breakthrough on the upper rail line, and it is necessary to observe the follow-up behavior of the market.
MACD shows that the price is still not in the short market. At present, it mainly observes the trajectory of the DIF line. DIF can cross the zero axis to do more.
Day trade strategy: take a long position, and bullish if the indicator indicates a rise in the European and American time.
Resistance: 1741 1751 1760
Support: 1725 1720 1710
Z.com Bullion Analyst: Tony Liu