XAUUSD: Gold retreated, followed by the 1980 line
Updated
As Treasury yields edged back up, gold came under pressure, falling back from above $1,990 during the day, although last week's weak NFP forecast brought forward Fed rate cut expectations, but the gold price did not seem excited about it.
For this week, gold will continue to track events in the Middle East, while a number of Federal Reserve officials will make their debut this week, including Fed Chairman Jerome Powell. After three weeks of gains in gold, the rise has slowed, but the bull trend has not ended, and the shock of nearly two weeks or brewing a more significant rise. In the chart, the Bollinger belt opening, KDJ index to form a gold fork, last Friday prices in the non-agricultural impact of the high fall, today's gold price still maintains an upward trend, concerned about the 2000 mark can successfully break and stand firm! In the short term, the probability of shock is large, and the support of the 1980 line is concerned below, and the resistance of the 2000 line is concerned above.
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