The ups and downs of life are half of the pits dug by life, half of the holes of their own edges and corners, the ups and downs of the market, half of the impact of news stimulation, and half of the disparity in the power of the long and short game in the market! And my existence is to give you a beacon of clear direction in market fluctuations!
Spot gold weakened slightly in early Asian trading on Monday (July 8) and is currently trading near $2385.69 per ounce. Gold prices edged under pressure as the euro weakened as a surprise result from the French election over the weekend gave the dollar a chance to rebound. Gold extended gains on Friday to its highest level in more than a month, hitting as high as $2,392.82 an ounce and closing at $2,390.85 an ounce, after key U.S. jobs data showed the labor market was weakening, raising expectations for a rate cut by the Federal Reserve in September.
The data showed that U.S. nonfarm payrolls rose by 206,000 in June, slightly higher than economists' estimates of 190,000. However, the number of new jobs in May was revised down to 218,000 from 272,000, while the number of new jobs in April was revised down to 108,000 from 165,000 previously. The unemployment rate rose to 4.1% in June, slightly higher than the forecast of 4.0%. After the release of the data, the price of U.S. interest rate futures reflected that the market's confidence in a rate cut in September remained, and the implied probability remained around 77%. Traders also believe that the likelihood of a second rate cut in December is also rising. Lower interest rates reduce the opportunity cost of holding non-yielding gold.
Investors need to pay attention to the further fermentation of the French election on this trading day. This week, focus on Fed Chair Jerome Powell's congressional testimony and US CPI data for June, and keep an eye out for geopolitical news. Relatively speaking, the current fundamental and technical bias is biased to support gold prices above the 2400 mark, and is even expected to test the resistance near the all-time high of 2449.88.
7.8 Spot Gold Market Analysis:
Gold opened near 2356 on the last trading day, the Asian market fell slightly below the strong support position of 2354 after the first line began to rebound and rise, the European market continued to rise, the U.S. market opened after the data continued to soar after the momentum, the end of the day refreshed the new high to 2393 first-line pressure position, and then the high shock closed, the daily line directly charged the big yang trend. On the daily line, the Bollinger band has an opening to run upward, the K line is temporarily running above the upper rail, the MA5 and MA10 moving average in the middle of the track position began to turn around and diverge upward, the MACD energy column is gradually in the shrinking trend, the KDJ indicator golden cross, the daily line large cycle to see the low level pull up and rebound up, it seems to be strong, but the top is already running in the limit position, today to see a wave of high and falling trend, today's pressure position to see the short-term decline, rebound short operation. Short-term look at the Bollinger band opening to run upward, the K-line near the upper side of the shock, MA5 and MA10 moving averages have been upward divergence running trend, MACD energy column is gradually shrinking, KDJ indicator dead fork, short-term look at today to see the pressure fall, rebound short.
7.8 Spot gold operation suggestions:
1. Short near 2392/2394 above, stop loss 6.5 US dollars, target 2380-2365-2350;
2. Test the short near 2410/2412 at any time, stop loss 6.5 US dollars, and look at 2400-2382-2360 at the target;
3. Go long near 2350/2352 below, stop loss 6.5 US dollars, and the target is 2363-2378;
4. If the market changes, we will give suggestions separately, please pay attention;
7.8 Spot White Bank Analysis:
Silver opened near 30.38 on the last trading day, Asia and Europe are a small shock trend, the U.S. market opened after testing the lower low support level near 30.1, and then began to rebound up, the end of the market continued to pull up, testing the upper high pressure position of 31.48 after the first line began to fall, the daily line directly charged the big yang trend. On the daily line, the Bollinger band is running upward, the K-line is currently running above the upper rail, the MA5 and MA10 moving averages are currently near the middle rail and began to turn upward. In the short term, the Bollinger bands are gradually closing, the upper K-line is oscillating near the upper side, the MA5 and MA10 moving averages are diverging upward, the MACD energy column is gradually reducing the trend, the KDJ indicator is a golden cross, and the short-term look at the decline today, and the rebound is mainly short.
7.8 Spot Silver Operation Suggestions:
1. Short near 31.34/31.47 above, stop loss 31.65 US dollars, target 30.67-30;
2. Test the short near 31.74/31.86 at any time, stop loss 32 US dollars, and look at 31.12-30.53 under the target;
3. Go long near 30/30.15 below, stop loss $29.86, target 30.54-31;
4. If the market changes, we will give suggestions separately, please pay attention;
7.8 Crude Oil Market Analysis:
Crude oil opened near 83.4 on the previous trading day, the Asian market fell slightly, the European market rebounded and rose, the U.S. market rose near the intraday pressure position of 84, the end began to fall, the end of the day refreshed the new low to 82.5 a line of strong support, the daily line closed a small negative trend. On the daily line, the Bollinger band is in the operation stage of closing, the K-line continues to test the upper rail pressure nearby, the MA5 and MA10 moving average highs began to turn around and run downward, the MACD energy column is gradually shrinking, the KDJ indicator is a golden cross, the daily line is a big cycle to see today's high fall, and the pressure position is to see the downward trend, and the high altitude can be. In the short term, the Bollinger band opening runs downward, the K-line band is oscillating near the lower band, the MA5 and MA10 moving averages in the middle track begin to turn around and diverge downward.
7.8 Crude Oil Operation Suggestions:
1. Test short near 83/83.2 above, stop loss 84.2, and look at 81.6-80 under the target;
2. Test 85.2/85.4 near short at any time, stop loss 86.3, and look at 83.8-81 under the target;
3. Go long near 79.4/79.6 below, stop loss 78.2, target 80.5-81.3;
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)