Gold once again stood above the 1800 mark

Opening price 1809.62 Yesterday closing price 1808.97 Lowest price 1805.20 Highest price 1810.98

Technical Analysis: Gold

After experiencing last week’s continuous gains, gold once again stood above the 1800 mark. The overall rise is strong this time, with no obvious pullback trend, and the path is relatively smooth. It opened at 1809.62 on Monday and retreated from a high of 1810. It is currently at 1806.68 and the current general trend is moving downwards. The recent gold price movement has been greatly affected by the epidemic and other fundamentals, and appropriate attention needs to be given.

On the 30-minute chart, the price fell slightly after the opening of the day and moved downwards, with irregular declines and insufficient momentum. The price currently touches the lower track of the Bollinger Bands and has not formed a continuous downward breakthrough. The Bollinger Bands exposure is relatively flat and stable. The price has fallen slowly recently, but the possibility of a larger market is less likely.

Day trade strategy: The overall light storage is bearish, pay attention to the continuous breakthrough point, and pay attention to the basic information related to the epidemic.

Resistance: 1810 1812 1815

Support: 1800 1790 1785

Z.com Bullion Technical Analyst: Tony Liu