Opening price 1801.32 Yesterday closing price 1802.76 Lowest price 1796.17 Highest price 1803.33
Gold price repeats at 1800 position
On Monday, due to the risk of the second spread of the epidemic and international trade worries, gold once rose to $1813.59. At the same time, the data shows that the US budget deficit in June was 101 times that of the US$8 billion deficit in June last year. It was the record peak. Considering that the second round of stimulus is coming, the US fiscal pressure will increase further, which will also push gold higher. . Despite the good fundamentals of gold, gold is still under pressure from the previous high of nearly 9 years in recent trading days, because the US dollar index is still at a relatively high level and the market expects economic recovery.
Technical Analysis: Gold
Gold continued to oscillate in a narrow range since it reached the high of 1810, and the lowest was below 1795. Today opened at 1801.32 in early trading, and then rebounded after falling below 1800 in shock. The current price is at 1800.44, which is in an upward trend.
On the 1-hour chart, it can be clearly seen that the trend is in the climbing stage after the downward market. The price has not fallen below the 1800 integer. It is very likely that a new round of rising market will be initiated. The 1800 integer is a key position. The price is currently generally In the seller’s market, the decline has not yet come out.
Day trade strategy: bullish above 1800. After breaking below the integer, judge long and short based on the signal.
Resistance: 1810 1820 1830
Support: 1790 1780 1775
Important information of the day:
20:30 United States June CPI annual rate is not seasonally adjusted (%)
Z.com Bullion Technical Analyst: Tony Liu