Gold market summary of the week and next week's market forecast:
Spot gold held steady around 1859 during the Asian session on Friday (November 19). Gold prices fell slightly on Thursday as initial jobless claims fell to a 20-month low, reinforcing market expectations for an early Rate Hike by the Federal Reserve, but a stronger dollar limited gold prices. Inflation remains a focus for investors, and Williams, president of the Federal Reserve Bank of New York, said inflation in the United States has become more widespread and expectations of future price increases are rising, a trend that policymakers will be keeping a close eye on. U.S. jobless claims fell to near-pre-pandemic levels last week, and the labor market continued to recover, but worker shortages still pose a barrier to accelerated job growth. As global inflation soared, divergent expectations of central banks tightening policy led to a sharp rise in the dollar. Analysts say the dollar has risen across the board and now the market will take a step back to assess whether the inflation theme is really continuing at the rate everyone thinks. Overall, gold prices continue to fluctuate at a high level. Next week's focus will be on consumer confidence and PCE data for Wednesday (November 24) evening. There is not much economic data coming out next week, and gold prices may still be dominated by shocks in the short term.
Look at gold this week 1877 line was blocked to fall back, after midnight yesterday broke the lowest fell to near 1842. The weekly line closed negative, the next week tends to oscillate, resistance 1866, support 1818. However, the position of the top and bottom conversion is at the 1834 line, and the position of the short-term support is near 1832, and this range is not broken, and it can be considered to rebound more. The rising point of the 4-hour Dayang line at 1826 is also a dry multi-position, and the specific situation should be combined with the market of the day. The daily line closed in the dark on Friday, and the normal trend will fall next week, but because the low point of the previous fall is at the 1841 line, that is to say, the market must fall below 1841. If the market stabilizes at 1841, it is normal to fall below 1841 directly to see the vicinity of 1834-1832. The upper resistance in addition to 1866 is the previous high of 1877, and the market must break through 1877 again if it wants to rise. Break 1877, the normal trend can go up to 1900, the probability of going next week is not large. Let's look at the small cycle again, the high point of the Friday break rebound is near 1850, the trend line resistance is near 1855, if monday rebounds first, 1850 or close to 1855 short, the target 1841 break to see near 1833.
Therefore, next Monday's operation strategy rebounded to 1850-1855 batches of short orders to enter the market, stop loss at 1860, take profit The first target to see 1843
Text/Zhang Jinjiu