Opening price 1785.05 Last closing price 1784.68 Lowest price 1780.73 Highest price 1787.37
After the gold price rises, it shows signs of callback
The surge in the number of new cases on Monday caused the prospect of a full economic restart to be overcast, thus pushing gold to a previous high of nearly 8 years. However, the recent better-than-expected data from the US and Europe offset some of the impact of the second spread of the epidemic. However, Baida Assets believes that gold and stock market growth can coexist, because the common driving factor for both is the continued easing policy of the global central bank. With the rebound of inflation expectations caused by massive easing, gold will obviously benefit. TD Securities believes that gold may continue its performance in the second quarter and continue to rise in the third quarter.
Technical Analysis: Gold
After a round of rise, gold began to oscillate downward trend. Today, Asia opened at a high of 1785 in early trading, and then showed a downward trend of shocks. The current price is at 1786.69, and it is still moving in the falling range.
On the 1-hour chart, the Bollinger Bands’ exposure has gradually narrowed, and prices have begun to dive down the track line, and a breakthrough is about to form. Although the amplitude is obviously not large, it can be considered as a callback signal. MACD shows that although the kinetic energy is still in many aspects, it clearly shows that it has begun to shrink. Technically, it is possible to start a downward trend during the European and American days.
Day Trade Strategy: bearish, pay attention to the signal guidance of European and American time.
Resistance: 1785 1788 1790
Support: 1770 1760 1765
Important information of the Day: no special fundamental information
Z.com Bullion Technical Analyst: Tony Liu