Spot gold rose slightly on Friday (January 14), and the short-term technical outlook is still strong, and there may still be room for growth in the market outlook.
Day level:Gold prices bottomed out and rebounded on Thursday, ending slightly lower, with a pause in gains, as U.S. PPI showed that U.S. inflation may be peaking.
However, the technical bulls are still strong, the MACD is golden, and the RSI has not touched overbought. The market outlook is expected to have room for further growth.
Before breaking through the high level of 1831 on January 3, the important resistance above, the price of gold may continue to consolidate at a high level.
After breaking through 1831, the upper space will be further opened, which may trigger a large influx of buying orders. It is recommended that investors continue to chase the gains. Focus on the high of 1849.13 on November 22 and the high of 1865.73 on November 19.
The initial support below is concerned with yesterday’s low of 1812.46, and further concerned with the psychological mark of 1800.00 and the high of 1793.15 on December 8.
(Spot gold daily chart)
Short-term operation suggestions:Below 1831, wait and see or do more wet storage, and break through 1831 to catch up.
At 13:45 Beijing time, spot gold was reported at $1,827.66 an ounce.
Fusion Mediaor anyFusion MediaThe parties concerned do not accept any responsibility for loss or damage arising from reliance on the data, quotes, charts and buy/sell signals contained in this website. Please fully understand the risks and costs associated with trading in financial markets, one of the riskiest forms of investing. The English version of this Agreement is the primary version. If there is any discrepancy between the English version and the Chinese version, the English version shall prevail.