Technical Analysis of Spot Gold |

Technical Analysis of Spot Gold

2023-03-06

European stocks continued to rise as China cut its growth target this year. Meanwhile, markets focus on Fed Chairman Powell’s two-day testimony ahead of this month’s employment report.

February (due Friday), which is likely to set the Fed’s path for the foreseeable future. While investors have expected the Fed to keep interest rates higher for a long time, there are recent fears that robust economic data will lead the central bank to return to a devaluation. Once again, it will have an impact on inflation in the future. Most markets expect Powell to be vague this week, but his testimony comes before the job report is released. Aims to keep all options open.

All investors can set the buy gold at $1,845 per ounce.

Set stop-loss at $1,830.

Set take profit at $1,870.

Analyst: Mr. An Rothchanborey, Independent Analyst

Disclaimer:

Goldwell Capital Co., Ltd. endeavours to ensure the accuracy and completeness of this research report. However, as the market is subject to change, the Company and our subsidiaries do not guarantee its completeness and accuracy, and the information is for reference only. Any person shall not regard such information as Goldwell Capital Co., Ltd. on leveraged foreign exchange, precious metals, stocks, and other financial products to provide real quotes, suggestions, solicitation and inducement of investment. Guests should be aware of the risks involved in the investment, the volatility of the investment market and the risk of loss can be very big, guests must carefully consider their own financial situation and investment purposes, to decide the direction of investment and the kind of investment products that are suitable for their owns.

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