Forum Post: gold jinyu Sept. 26th gold price trend analysis

International gold price yesterday raised from a bottom line, market rebound is very clear after oversold, added by the slump of Euro-U.S. stock market, gold surged to above 1220 during U.S. trading time; in today’s Asian trading time market corrected itself and based around 1223. The latest initial jobless claim is better than expected, yet August durable goods orders is weak, dragged USDX fall from a high point and lift gold from the bottom; continuous attacking Islamic states militants caused worries about regional conflict, with the slump of stock market, avoiding risks mood raised a lot and boost gold’s rebound. Currently gold daily chart market price volatilization is increasing after the lower wick and the MACD green bar shorten to neutral axis. The pressure comes from 1229 and the support from 1216.