The international gold price oscillated yesterday. It broke the 1640/1650 consolidation range at midnight and quickly pulled up above the 1655 line. The highest intraday hit 1666 line was blocked and fell below the 1655 line.
Weekly, since the 30-day moving average has been punctured, the rebound has been repressed by it. This is also an opportunity for a mid-line to be short. Indicators are still bearish trends. Daily chart, three consecutive shades, and 1 small positive adjustment are certainly not weak. The correction, but out of super-rebound, the short-term upward trend may be the situation of low consolidation, Brin shrank, averages fell, short-term by the 120-day moving average, upward pressure.
The 4-hour K-line break down the 10-day MA and repress in the short-term. When the price of gold is firmly on the track, it is expected to rebound further. The STO indicator is operating in the overbought zone. The point of rise is in the 1650 line, and the short-term gold price will usher in a rebound. Only the breakdown of the breakdown will be ended.
Taken together, it is recommended that the price of gold be dips for the day and the bottom line should be 1655, 1650/52. The top should focus on the 1668/70 pressure level. Once it breaks, there will be upward pressure on 678/82.
The market lacks a clear direction for the time being, and the non-US currencies maintain a low level of shock. Some positive sentiments in the euro area, Spain successfully issued bonds, IMF approved Greece, the S&P rating outlook for Greece is optimistic, the European Central Bank did not intend to introduce more easing measures to improve the European economy; plus the United States data to maintain a beautiful situation, Risk appetite has risen.
It is expected that today's international gold prices will still be tested on the 1680 line. Operational Strategy: Do more with dips. Today's volatility is expected to range from 1655-1680.
At 10:39 GMT, today's gold price was reported at 1663.00 US dollars per ounce.
Yesterday, the international gold price fluctuated sharply and rebounded. The volatility was: 1636.40-1666.60 US dollars/ounce, and it closed at 1658.70. It was on the day of the Great Yang line.
May 19, 2019