📝 Commenting on Gold on August 3, 2020:
‼ ️ About news:
- GOLD this morning had GAP from 1975 up to 1988 but then dropped again and is in 1972.
- The driving factor for the increase in gold price is still being supported by the worry of a sharp outbreak again when the US is currently the country most heavily affected by the Covid-19 epidemic with over 4.7 million cases. , of which more than 154,000 people died. US CDC projections show that the number of people killed by Covid-19 in the country could rise to more than 173,000 on August 22.
- Over the weekend, Trump said that he plans to ban China's MXH Tiktok platform from operating in the US, which could create further tension between China and the US.
- In addition, the US is negotiating through a new stimulus package worth 1,000B USD and if approved, the money will be pumped out, causing investment funds and financial institutions to buy gold to defend. .
- Today, PMI Manufacturing data from the United States is published, currently forecasts well for the USD. And this week, the market will receive important US economic data such as non-farm payrolls, etc.
‼ ️ About techniques and personal views:
- GOLD from last Tuesday (first time reached 1981) had 2 times on Wednesday and 6 to retest this "temporary peak" and this morning Gold continued to inch up to 1987.9 with the trend of higher peak. the previous peak and the lower bottom are higher than the previous bottom, together with the negative news about GOLD as summarized above the view that I find it is difficult to have a deep correction in the first sessions of the week.
- And today we wait for the low corrective prices of Gold to establish a buy status. The support zone pushed the price up for the day in 1967-1963 and the resistance area pushed the price around the 1983 threshold.
No comments:
Post a Comment