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【Night summary 】September 01,2020

Refresh time:2020-09-01

In the Asian market on Tuesday, the US dollar accelerated to fall below the 92 mark. Spot gold continued to rise and just touched US$1985. At the same time, silver continued to expand its gains to about 2%.


In terms of the US dollar index, on Tuesday, the US dollar was under further pressure to refresh its two-year low after falling for two consecutive days. The current trading volume is around 91.95. Looking at the daily line, the MACD red kinetic energy column gradually weakened and nearly disappeared, and the KDJ stochastic indicator approached the oversold level downward, indicating that the short-term bullish kinetic energy dropped sharply, or further down. In 4 hours, the U.S. dollar has formed continuously downward highs and lows, and has fallen below all moving averages. 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, on Tuesday, gold rose further after two consecutive days of rising, and it has already exceeded $1980. Looking at the daily line, the MACD green kinetic energy column gradually weakened, and the KDJ stochastic indicator sharply broke through the 50 level, indicating that the bearish kinetic energy of gold has slowed down and is expected to rebound further. In 4 hours, the price of gold continued its previous volatility and higher momentum, and has now stood above all moving averages. 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, on Tuesday, silver rose further after two consecutive days of gains, and is currently trading at around US$28.50. 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 is basically stable, and the KDJ stochastic indicator is approaching the overbought level, indicating that the bullish kinetic energy of silver is stable and may fluctuate further in the short term.


Spot gold:


Resistance: 1990, 1995, 2001 Support: 1985, 1980, 1973


Spot silver:


Resistance: 28.90, 29.20, 29.50 Support: 28.30, 28.00, 27.70