16December Gold Technical Analysis

The price of gold rose sharply yesterday. The price rose from a low of 1820 to above 1850. Recently, the market opened at a price of 1852 and it rose slightly. It is currently at the position of 1855.91, still maintaining an upward trend.

Important Information of The Day

At 03:00 in the morning, the Federal Reserve announces its interest rate decision, and at the same time announces the dot matrix chart of economic expectations and interest rate expectations
At 03:30 in the morning, Federal Reserve Chairman Jerome Powell held a press conference

Technical analysis: Although the price has broken through the Bollinger Band and led the curve upwards, we need to pay attention to the impact of today’s fundamental information. At present, the upward momentum is still obviously very sufficient, but the continuous breakthrough of the price last night on the upper track has converged and flattened, and it is only moving within the track. The momentum on MACD is still sufficient, indicating a strong buyer’s market. However, because of important Fed information in the early hours of the evening, it is recommended that long positions can be profitably closed and wait for market dynamics.