Quotes review
Gold yesterday during the day can be said to be once again caught in the 1860-1870 range shock, the upward bulls can not continue to continue to break through the 1870 to go higher, the downward bears do not have a large bearish news surface stimulation can not completely fall below the support to look at the previous low, and the gold situation can be said to be a period of time is also often happening, and want to completely break this situation can only look at the major data of the US market tonight to promote the long-short situation of gold!
At present, although gold has touched the 1870 mark again, the short-term bears are still relatively strong, and the current Asian session at the beginning and end of the session are also two tests above the 1868-1870 suppression, but in the end it is still difficult to continue the bulls.
As for last night, although the trend of gold began to turn short-term to bears, but it still needs further stimulation of the news surface to confirm whether to go short again, and even if gold is short-term bearish again, the important thresholds below 1855, 1848, 1842 are also the heavy resistance of gold bears, starting from our bearishness, it has always been emphasized that gold can only be considered to be bearish in the true sense if it completely falls below the 1842 mark and continues to 1840. Otherwise, so the pullback can only be regarded as a range oscillation back and forth!
Then through the above comprehensive analysis, in fact, our main ideas today have been more obvious, and the specific trading ideas can be referred to:
1, the current gold above the suppression is strong, and the short-term trend has gone to the bears, then our main idea today is to take the high 1868-1870 short-term mainly, the short-term target below the bears is still temporarily looking at the 1855-1860 support, and as for the stop loss, we must also take it well at 1874, because the bears also need to control the risk in the strong force, after all, there is no absolute long-short trend in this market!
2, as mentioned above, gold even if bearish, the lower support is also more, so today if gold continues to fall below the 1860 mark, we also temporarily see if the 1855 support below can fall below, if the continuous test below the 1855 support is not broken, we can properly win the rebound more than a single look at the 1860 mark, and once gold falls below 1855 again, we are looking at the 1848-1850 support below, the same is not broken can consider winning the rebound more orders, but more than a single profit do not take too much, After all, gold has continuously fallen below the heavy threshold, even if the rebound is repaired, the strength before the US market will not be too large!
Judging from the hourly chart, today's operation is still dominated by highs and shorts
Today's gold strategy: 1865 short, stop loss at 1874, take profit 1858
Crude oil latest market analysis:
Crude oil news analysis: On Thursday (November 18), international oil prices extended their decline to more than 1%, continuing to hit a six-week low and continuing the momentum of the overnight slump. As a result, it has been reported that the United States has asked large crude oil consumers to consider cooperating to release oil reserves to reduce oil prices. The United States has previously released more than 3 million barrels of crude oil from its strategic reserves for two consecutive weeks, coinciding with a political impact from inflationary pressures fuelled in part by soaring energy prices. But U.S. crude inventories remain diminishing, and oil inventories in developed countries are at six-year lows, and the balance between supply and demand in the oil market may not change quickly. The U.S. has asked seoul authorities to release some of its oil reserves, "and we are thoroughly reviewing U.S. requests, but we will not release oil reserves because of rising oil prices." We can release oil reserves in the face of an imbalance between supply and demand, but not in response to rising oil prices. But energy consultancy FGE warned that oil inventories in developed countries are at a six-year low and that the balance between supply and demand in the oil market may not change quickly, "while prices may fall from last month's peak, the current low inventory situation puts oil prices at risk of soaring in the coming months." "Last week, refineries began processing more crude and exports also increased, suggesting a generally strong demand for U.S. oil. Despite the U.S. releasing more than 3 million barrels of crude from its strategic reserves for two consecutive weeks, crude inventories remained reduced as the Biden administration sought to lower overall fuel costs.
Crude oil from a technical point of view, the daily level of oil prices fell sharply on Wednesday, Thursday's Asian session gap accelerated downward, hitting a six-week low, oil prices may have peaked, the medium and long-term market ushered in an inflection point. If the decline continues, initial support focuses on the 38.2% retracement at 76.30, a break below this level suggests that oil prices may fall to the 50% retracement of 73.59, and then look further down at the July 13 high of 75.51 and the July 30 high of 74.23. Technically, MACD and KDJ dead fork, but the oversold signal has appeared, may be expected to limit its decline, but overall, oil price bears are currently in a strong position, continue to short the high. Initial resistance above focuses on the 50-day moving average of 78.53, and then on the 5-day moving average of 79.48 and the 10-day moving average of 80.75. On the whole, crude oil today's short-term operation ideas suggest that the rebound is mainly high, supplemented by a pullback low, the upper short-term focus on the 79.3-79.8 first-line resistance, the following short-term focus on the 77.0-76.5 first-line support.
Text/Zhang Jinjiu