Highlight fundamentals
• Gold swings narrowly even though it rose first!! But was sold to reduce risk and closed at minus $2.11!!
• Even in the short term, gold has technical speculative buying power. But when the price goes up to test The upper boundary of the main trend Sideway down has not yet been crossed.
• Including US economic figures. That prevented gold from moving back within its original range, including construction permit numbers that increased 6.9% to 1.443 million units, the highest in 10 months. The dollar index then recovered, pushing gold down to $1,928.90.
• But another number supporting gold is home construction starts, which plunged -11.3% to 1.283 million units, the lowest since June 2020. Therefore, the price is still limited as well.
Advice
• The price rose and moved near the upper resistance line, but selling pressure to take profits continued to increase.
• Recommend finding a time to open a short position to make a short-term profit. If the price cannot stand above the resistance level of 1,946-1,953 dollars per ounce.
• To wait to gradually close the selling position to make a profit. If the price does not fall below the support level of 1,901-1,884 dollars per ounce.
• Sell position to cut losses. If the price passes the resistance level of 1,953 dollars per ounce.
This article was produced by YLG Bullion International.
For more information, contact 02-687-9888 press 1 or website ylgbullion.co.th
2023-09-20 04:05:32
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