During the Asian session on Tuesday (April 30), spot gold fluctuated in a narrow range and is currently trading near $2334.32 per ounce. Gold prices barely held the 2330 mark on Monday, helped by a weaker dollar but still under pressure below the 21-day moving average at 2340, as the focus turned to the Federal Reserve's policy meeting and the US non-farm payrolls data to be released this week for clues on the trajectory of the Fed's interest rates.
Higher-than-expected consumer inflation data for March released earlier this month prompted traders to lower their expectations for a Fed rate cut. At present, the market is worried that the Fed chairman will release hawkish signals, which makes gold prices face certain downside risks in the short term.
The Fed's two-day policy meeting will begin on April 30. According to CME Group's FedWatch tool, the Fed is expected to leave its benchmark interest rate target range unchanged at 5.25%-5.5% at the end of Wednesday's meeting. Markets are also keeping a close eye on the U.S. non-farm payrolls data for clues on the Fed's rate cuts. Fed Chair Jerome Powell said in his last speech that policymakers are likely to keep borrowing costs high for longer than previously expected, pointing to a lack of progress in reducing inflation and continued strength in the labor market.
4.30 Spot Gold Market Analysis:
Gold opened near 2336 yesterday, the Asian market fell directly below the strong support level near 2320 and began to rebound upward, the European market hit the upper pressure position of 2345 line and then fell, the U.S. market continued to hit the important pressure position above the 2346 line after the downward run, the daily line charged the doji trend. On the daily line, the Bollinger bands are running flat, the K-line middle rail suppresses the lower running state, the MA5 and MA10 moving averages are currently in the middle of the rail near the flat running state, the MACD energy column is gradually running in large volume, the KDJ indicator is dead fork, the daily cycle looks at the pressure position to fall today, the rebound is short, and the decline is mainly seen today, and the high and low can be. Short-term look at the Bollinger band closing operation, K-line continuous impact above the pressure falls, MA5 and MA10 moving average highs began to turn downward divergence running trend, MACD energy column is gradually shrinking the operation, KDJ indicator dead fork, short-term to see the upper pressure is very strong, today to see the weak pullback downward trend, high-altitude to see the decline of the main.
4.30 Spot gold operation suggestions:
1. Short near 2338/2340 above, stop loss 6.5 US dollars, target 2326-2312-2294;
2. Test the short near 2356/2358 at any time, stop loss 6.5 US dollars, and look at 2345-2330 under the target;
3. Go long near 2290/2292 below, stop loss 6.5 US dollars, and target 2304-2320;
4. If the market changes, we will give suggestions separately, please pay attention;
4.30 Spot White Bank Analysis:
Silver opened near 27.14 yesterday, the Asian market fell slightly near the support level of 26.94 and began to rise, the European market rose to the upper pressure level of 27.43 and then began to fall, the inner disk continued to test the pressure position at the end of the day to give up all the gains in the day, and the daily line directly charged the doji trend. On the daily line, the Bollinger bands are running flat, the K-line middle track suppresses the fall, the MA5 and MA10 moving averages in the middle track position begins to turn around and diverge downward, the MACD energy column is running in a large volume, the KDJ indicator is a dead fork, the daily cycle looks at today or looks at the weak fall, the rebound high-altitude operation, today to see the fall, the rebound is short. In the short term, the Bollinger band opening runs downward, the K-line support runs along the lower track, the MA5 and MA10 moving averages turn around and diverge downward, the MACD energy column is gradually shrinking, the KDJ indicator is dead, the short-term rebound is short, and today it is down, the upper pressure is very strong, and the high altitude can be.
4.30 Spot Silver Operation Suggestions:
1. Short near 27.36/27.48 above, stop loss 27.63 US dollars, target 26.82-26.36;
2. Test long near 28/28.17 at any time, stop loss 28.35 US dollars, target 27.53-27;
3. Go long near 26.32/26.45 below, stop loss $26.12, target 27-27.65;
4. If the market changes, we will give suggestions separately, please pay attention;
4.30 Crude Oil Market Analysis:
Crude oil opened yesterday near 83.7, the Asian market fell slightly, the European market began to rebound and rise, refreshing the new intraday high to the pressure position of 83.9 after the first line began to fall, the U.S. market continued to fall, the end of the day to refresh the new low to 82.4 line after the beginning of the shock closing, the daily line to collect a small negative trend. On the daily line, the Bollinger bands are gradually running flat, the K-line near the middle track is suppressing the fall, the MA5 and MA10 moving averages are starting to turn around and diverge downward, the MACD energy column is gradually in the volume trend, the KDJ indicator is dead, the daily cycle is still looking down today, the rebound is short, and the pressure position high is gradually moving downward, rebounding short. Short-term look at the Bollinger band opening divergence downward running trend, the current lower band of the K-line is oscillating, MA5 and MA10 moving averages have been in a high-level turning downward running state, MACD energy column shrinking operation, KDJ indicator golden cross, short-term to see the pressure position fall, today to see the weak downward trend.
4.30 Crude Oil Operation Recommendations:
1. Test short near 83.2/83.5 above, stop loss 84.4, target 81.5-80;
2. Test 85/85.3 near short at any time, stop loss 86.5, and look at 83.8-82 at the target;
3. Go long near 80/80.3 below, stop loss 79, target 81.4-82.6;
4. If the market changes, we will give suggestions separately, please pay attention;
(The above article was originally written by Xiaobing Finance, please indicate the source for reprinting.) Xiaobing Financial Management warmly reminds that investment is risky, and you need to be cautious when entering the market. The above only represents the personal views of Xiaobing Financial Management, and is not used as a basis for operation, and the operation is at your own risk)