Gold prices fluctuated yesterday, moving around $20 per ounce, and are currently trading at $1810 per ounce.

The FOMC last week spoke of an increase in COVID19 cases in the United States and globally, which has kept the US economy in good shape in recent months turn into bad situation again.

Yesterday, Powell, the chairman of the US Federal Reserve, made a number of remarks about the US economy, including the COVID19, which has had a devastating effect on the economy. Could bring US economy back to normal in a short time However, he did not elaborate that the United States could not get better, just needed a reasonable amount of time, and he did not mention the interest rate hike that major investors are focusing on.

And today at 10:00 pm, there will be a second interpretation that investors are waiting for the interpretation of raising or lowering interest rates with the 1.9 trillion stimulus approve to save the economy and the people of the United States or not!

We look at the technique of looking at the chart on the price of gold in between 4 hours and 1 day, gold has risen to the top, closer and closer to the downward trend line, and this is a good sign for you for preparing to invest (sell) gold at1820.

And if you look at the downward trend of the line, its 1resistant at $1792 and the other at $1768.

For today, the good thing is to sell the gold to get a short-term profit; sell gold at 1820, set take profit at 1805 and set stop loss at 1828.

But for those of you who are waiting to buy gold, I encourage you to set a low price to get a long-term profit of 1795 per ounce.

Buying is a great option, but don’t forget about setting up the stop loss and keeping track of today’s news as well.

Note: Please buy and sell carefully.

Analyzed by: Mr. Samnang Long，Independent Analyst