K-line, four hours of the gold market analysis

The market analysts said, leading to the day of the gold market trading was light as investors maintain a cautious optimism the central bank meeting to be held this week, the price of gold within a narrow range.

The Fed and the ECB are scheduled to convene a meeting this week, investors of these two central banks is expected to increasingly warming to take action. Analysts believe that, not satisfied with the U.S. economic outlook, may announce new initiatives, while the ECB is likely to launch a series of programs aimed at addressing the euro area sovereign debt crisis continued.

The day
Spot gold chart
Technical point of view, the price of gold was steady in 1607 above the 5-day moving average 1620 and 100-day moving average, the daily overbought. The current line of 4 hours MACD below the 0 axis side run, the short-term moving average group and the group of long-term average upward divergence. RSI indicator 63, a random index in the 76, gold in Bryn rail rail near the operation. During the day in 1620, the long and short watershed, above the resistance at 1624,1626 and 1630, below the support in 1616,1613 and 1609. Analysts believe that the price of gold was steady at the current success of 1600 the top of the integer points and has been tested around 38.2% bounce-bit 1627 of the 1790-1527 decline, do not rule continue to test before 6 June 1641 near. Below the support area in the 1579-1598 interval, the short term, gold will range bound according to the news of factors, investors should note that the United States refers to the trend and keep the wet storage operation. Analyst proposal could be considered short in 1625 near the wet storage, the target in 1615 near further to be seen near to 1613, or to find a range of operating opportunities between 1630-1610, the short-term long and short can be a volatile trading, stop loss of 5 to $ 10