During the Asian session on Friday (January 20), spot gold fluctuated slightly and was currently trading around $1,928.63 per ounce. The weakening of the U.S. dollar and the hope of a slowdown in U.S. interest rate hikes increased the appeal of safe-haven gold, and the price of gold rose sharply overnight. 30 US dollars, the weekly line is expected to record five consecutive positives. Although there are some short-term technical correction needs, the morale of the bulls is still high. The midline is expected to rise above the 2000 mark.
On this trading day, the annualized total of existing home sales in the United States in December will be released. In 2023, the FOMC voter and Philadelphia Fed Chairman Harker will give a speech on the economic outlook. Investors need to pay attention.
Daily level:Unilateral rise; the moving average is close to the long-term arrangement, the MACD golden cross is running well, the KDJ dead cross is destroyed, and the gold price initially conquers the key position of 1920. Before losing this position, the market outlook tends to continue the upward trend. There is no obvious resistance above the short-term. Initially Refer to the resistance near the low point of 1936.60 on April 21, and then the integer mark of 1950. The stronger resistance is around the high point of 1958.23 on April 20, and then the low point of 1970.72 on April 18.
Due to the rapid short-term rise in gold prices, the short-term support level is not obvious. The initial support below refers to the 1920 integer mark, or the 5-day moving average around 1918.48, and then the 1910 integer mark. The 10-day moving average is supported around 1903.14, which was touched on Wednesday This week’s low point support is around 1896.49; you can also pay attention to the 1900 integer mark.
from Thursday’stime-sharing chartLooking at it, the price of gold has some support around 1923.5, 1916.5 and 1906.5 respectively.
resistance:1936.60；1950.00；1958.23；1970.72；
support:1923.50；1916.50；1906.55；1896.49；
Suggestions for short-term operation:Conservatives wait and see; radicals are cautious about short-term rallies, and cautious long-term bargain hunters.