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【Night summary 】August 31,2020

Refresh time:2020-08-31

In the Asian market on Monday, spot gold continued to oscillate around 1970 US dollars and broke the 1975 level in the morning. At the same time, silver hovered around 28 US dollars and rose nearly 2% in the day.


In terms of the US dollar index, the US dollar on Monday hovered further low after last Friday's plunge, and is currently trading around 92.25. Looking at the daily line, the MACD red kinetic energy column gradually weakened, and the KDJ stochastic indicator fell below the 50 level, indicating that the short-term bullish kinetic energy has slowed down or further down. Looking at it for 4 hours, the US dollar seems to have formed a high point that continues to move downward. We are concerned about whether the previous low of 92.12 will be held. The expansion of the MACD green kinetic energy column remained stable, and the KDJ stochastic indicator touched an oversold level, indicating that the US dollar has strong bearish kinetic energy and may continue to fluctuate in the short term.


In terms of spot gold, gold on Monday consolidated at a high level after the sharp rise last Friday, and is currently wrapped around the 20-day moving average. Looking at the daily line, the MACD green kinetic energy column gradually weakened, and the KDJ stochastic indicator tried to break through the 50 level, indicating that the bearish kinetic energy of gold has slowed down and is expected to stabilize and rebound. In 4 hours, the price of gold continued to rebound and broke through the key 100-period moving average, and we should pay attention to whether the closing price can be maintained above this level. The MACD red kinetic energy column is basically stable, and the KDJ stochastic indicator has reached the overbought level, indicating that the bullish kinetic energy of gold is stable, and the short-term or further consolidation may occur.


In terms of spot silver, silver on Monday tried to rise further on the basis of last Friday's gains, and is currently trading at around 28 US dollars. Looking at the daily line, the MACD green kinetic energy column weakened slightly, and the KDJ stochastic indicator tried to approach the overbought level, indicating that the bearish kinetic energy of silver has weakened and the price may further fluctuate upward. In 4 hours, the price of silver continued to rise and crossed all moving averages. Currently, we are concerned about whether we can stabilize the 28 mark. The MACD red kinetic energy column expanded slightly, and the KDJ stochastic indicator tried to approach the overbought level, indicating that the bullish momentum of silver is stable and may fluctuate further in the short term.


Spot gold:


Resistance: 1970, 1975, 1981 Support: 1963, 1958, 1952


Spot silver:


Resistance: 28.30, 28.60, 28.90 Support: 27.80, 27.50, 27.20