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黄金技术面确认破位!金价大跌空间打开 知名机构日内黄金交易分析

The technical aspect of Gold confirms a breakout! The space for a significant drop in gold prices has opened up. Well-known Institutions' intraday Gold Trade analysis.

FX168 ·  Dec 18 17:42

# Gold Technical Analysis # 24K99 News On Wednesday (December 18), at the end of the Asian market, spot gold remained basically stable, with the gold price currently around $2645 per ounce. The well-known financial news website Economies.com published an article on Wednesday analyzing the technical outlook for gold throughout the day.

According to Economies.com, the gold price has broken below a minor Resistance level, opening up space for further declines in the gold price.

(Screenshot source: Economies.com)

Spot Gold closed down 0.24% on Tuesday, reporting at 2645.90 dollars per ounce. The price during the day dropped to a low of 2632.91 dollars per ounce.

At 03:00 Beijing time on Thursday, the Federal Reserve will announce its interest rate decision and economic outlook summary. At 03:30 Beijing time on Thursday, Fed Chairman Powell will hold a press conference on monetary policy.

The market generally expects the Federal Reserve to cut interest rates by 25 basis points. Investors will closely watch the meeting statement and the press conference following the meeting with Federal Reserve Chairman Powell to further determine future policy directions.

Analysts pointed out that if Powell takes a cautious stance on further monetary easing, emphasizing a gradual approach, the dollar may strengthen, and the gold price may face selling pressure again.

Economies.com wrote in the article that the gold price successfully broke below the bullish Trendline in the previous trading day and closed below that level, thus reinforcing expectations for a continued bearish trend in gold prices throughout the day. Currently waiting for the gold price to test the main targets of $2615.00 per ounce and $2600.00 per ounce levels.

(Spot gold 4-hour chart Source: Economies.com)

Economies.com added that the random indicators have clearly lost their positive momentum, which supports the bearish expectations for Gold prices. It should be noted that if Gold prices break through $2687.00 per ounce, this will halt the bearish trend and lead to a return to a major bullish trajectory.

Economies.com expects that today gold prices will trade between the resistance level of $2,660.00 per ounce and the support level of $2,625.00 per ounce.

Economies.com stated that today's expected trend for gold prices is bearish.

At 14:37 Peking time, spot Gold is quoted at $2645.05 per ounce.

The translation is provided by third-party software.


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