Table of Contents
Strategy: Wait for the way
Front: $ 3,310 or 51,350 baht
Resistance: $ 3,370 or 51,700 baht
news :
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Overall situation: Gold price, face pressure heavily from many negative factors at the same time before the President Fed’s announcement by the US manufacturing product numbers. Which came out stronger than expected, bonding Bond Yield and the dollar Higher Pressure investors to reduce the expectations of interest in September greatly. In addition, the main progress of the trade agreement between the United States-the European Union Helps to significantly reduce concerns about trade war. Combined with better economic data than expected from Eurozone and India The more reduction of the interest of gold as a safe asset
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Gold analysis:
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The direction of the US Bond Yield and the dollar: Bond Yield, US, 10 years old, rebounded to 4.33%, which is a direct negative factor for gold. Due to increasing costs and opportunities for holding This trend is consistent with Bond Yield around the world that has increased both in Japan and China. Reflecting interest rates that may stand higher than the dollar. Came back clearly Which is another important pressure that causes the price of gold to drop
strategy :
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Technical analysis: Although gold prices will continue to receive bad news. But technical, it is found that the price fluctuations in this period are very low. If looking at the 4 -hour MACD signal, the market shows the Sideway signal clearly, as if accumulating power to wait for the direction. Whenever this type of gold chooses the way Expected to run violently, at least 100 $ must see, which may occur tonight. Investors can use the strategy to wait for the price to pass the resistance or drop off first and then follow the follow trend.
Follow Buy. If the price penetrates and stands above the resistance $ 3,370 (51,700 baht)
Follow Sell. If the price dropped $ 3,310 (51,350 baht) down
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