Gold stabilized below 1780

Gold stabilized below 1780

On Monday, because Powell’s speech conveyed his optimistic view on the recovery of economic activity, which boosted the market’s optimism, and investors hoped that the stimulus plan would support the economic rebound, and economic data improved, promoting the rebound of US stocks, which limited gold Rise. However, because of the risk of the second spread of the epidemic, more US states have extended their plans for economic restart, which may exacerbate the risk of economic downturn. At the same time, the data shows that the net long position of gold increased by nearly 24% over the previous week. Fed officials have spoken intensively during the day, paying particular attention to the testimony of Powell Congress.

Technical Analysis: Gold

Gold’s highest price so far yesterday is 1773, which is currently at 1771, stabilizing below 1780 integer. The overall trend is narrow. The K-line vibration is not strong, and the multi-party has a slight advantage.

The Bollinger Band track exposure tends to be closed steadily, the market enters a stable environment, and the price stays in the middle rail line position, at a time when it stabilizes the current price segment.

MACD shows that the buyer’s kinetic energy is slightly depleted, and the DIF moving average is still above the zero axis, but there is a downward trend.

Day trade strategy: oscillate the trend pattern, pay attention to the signals in the European and American time periods, and have a callback trend to light the short position.

Resistance: 1775 1780 1785
Support: 1770 1760 1755

Important information of the day:

21:45 United States June Chicago PMI

Technical Analyst: Tony Liu