Message interpretation:
On Thursday (December 16), during the US session, at 21:30 Beijing time, the US side released a series of economic data. Among them, the market is concerned about the number of initial jobless claims in the United States last week slightly exceeded expectations, the real estate market data new housing starts and building permits performed more than expected, after a series of US data release, spot gold prices basically held near $1788 in the short term. Specific data show that the number of initial jobless claims in the United States for the week ended December 11 was actually 206,000, compared with 200,000 expected, compared with 184,000 in the previous value.
Gold climbed further after yesterday's bottoming out after the dust settled on the much-anticipated Fed's December interest rate decision, and returned above $1780 on Thursday (December 16). Spot gold rose yesterday to recover earlier losses, helped by the dollar's turn from rising to falling after the Fed said it would end the pandemic's stimulus in March. Gold rose today, largely due to a weakening of the U.S. dollar following the Fed's decision to end its pandemic-era bond-buying program in March, and investors are now awaiting policy decisions from other major central banks.
Gold Trend Analysis:
On the daily chart, spot gold maintained its rally on Thursday and is currently testing resistance at the 1790 mark, and gold prices stopped falling and rebounded after a sharp dip on Wednesday, although the Fed turned hawkish as expected, but the degree of hawkishness is generally within market expectations. Support below is strong and bulls are expected to extend the rally since the 1753 rally. Gold prices recover the 20-day moving average during the day, the short-term is expected to further test the 200-day moving average of 1794.6 or even 1800 mark, if the strong recovery of the 1800 mark then the recent decline will be completely reversed, on the contrary, if the rush back down or even close down, it means that gold prices will continue to sideways shock.
In four hours, gold prices have recovered with a rapid downward exploration. The K line pattern formed two major Yang lines to regain the lost ground, the day continued to break the Yang slowly rising, but there is no obvious unilateral for the time being, or look at the operation in a wide range, the short-term line continues to pay attention to the defense of 1795-1797, not to break the upper rail is still to see the oscillation in the range, on the contrary, if the breakthrough of the area defense will determine the key position of the upside space. Before forming an effective break, first look at the oscillation in the range, break through and then adjust the idea, the lower support 1780, 1772, the upper resistance 1797, 1800; the short-term idea relies on the resistance support first short and then more, and the break is followed by the trend. Real-time changes in the market, the strategy is for reference only, real-time trend analysis entry and exit points and more medium and long-term layout Zhou Hongjin will be given in real market!
Disclaimer: The above analysis content only represents the author's personal views and does not constitute a specific operation, according to which the operation profit and loss are at your own risk, investment is risky, and you need to be cautious when entering the market.
Text/Zhou Hongjin
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