Hello everyone, I am Zhang Baiwan, a financial person.
—News-
——In the early trading of the Asian market on Thursday (October 20) Beijing time, the dollar index traded around 112.9; the US dollar rebounded from a two-week low on Wednesday, as the 10-year U.S. bond yield rose to a 14-year high, while the pound weakened. Previous data showed that British consumer price inflation exceeded expectations, exacerbating concerns that the British economy would fall into a deeper recession. Gold prices fell to three-week lows as U.S. dollar and U.S. Treasury yields rose, and the prospect of a aggressive rate hike in the gold market further suppressed. Oil prices have risen as cautious attitudes over tightening supply offset uncertain demand and the negative impact of the U.S. releasing more crude from its reserves.
——Gold Analysis—
Gold Daily Line Level, yesterday closed down a long upper shadow small positive K-line, and the pressure at the middle rail was still under pressure. At the same time, the 10 moving average turned downward. The short-term resistance of 1668-1673 is relatively large, and it repeatedly surged and fell, which means that it is easy to break the bottom again in the later stage; compared with the current cycle trend, we must pay close attention to the short-term 10-day and middle rail pressure zones, running under this pressure level, and the weak pattern remains unchanged;
In addition, we must pay close attention to the short-term downward channel, and it is still under pressure and downward, which means that the trend is certainly extremely weak. Although there will be a certain rebound and correction in the short-term pull-up period, from the perspective of the daily line, the overall strength is very weak, the channel slope is relatively steep, and the trend of short remains unchanged.
MACD has been in a divergence state. Every time it pulls down and breaks down, it is easy for to bottom out and to pull up and oscillate once, and the high point is gradually moving downward. The middle rail and the division resistance are under pressure at the 1660 line. The six-month line resistance is around 1670, which is a certain pressure, and continues to test and refresh the low downward. Although it is still weak today, there is a need for a rebound, which is why it plans long positions again at 1624 today.
——Gold operation suggestions—
Gold price 1624 can directly participate in long positions, 1620 continue to add positions, stop loss 1614, target
I am [Zhang Baiwan], a professional analyst of precious metals financial investment, gold, silver and crude oil. He is good at using wave theory, ladder tactics, K-line patterns and moving average systems to make trend predictions, accurately analyze market sentiment changes, and analyze subsequent trends. If you don’t know anything, you can follow me at any time. This article is exclusively written by Million. Investment is risky and transactions should be cautious.
