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Precious metal market last week Longs and shorts closed flat. Gold and silver prices gradually opened higher and then broke through the resistance line in the range. They fell back to the middle of the range at the end of the weekend. The price of gold opened at around US$3 last week, and then gradually climbed to fluctuate around US$3. On Thursday, bulls once expanded to operate near the US dollar. On Friday, it gradually fell back to fluctuate around US$3, and closed further down to around US$3 over the weekend. . The price of silver opened at around .USD, then rose sharply to fluctuate around .USD. On Thursday, it further rose to consolidate around .USD. At the weekend, it fell back and stabilized around .USD.
Technical Analysis
Because the Federal Reserve meeting will be held this week, the market will be highly focused on the specific results of the interest rate hike. Before the resolution is announced, it is expected that the bulls and shorts of the precious metals market may not change significantly, and the prices of gold and silver are biased. Consolidating in a weak position. Since investors tend to wait and see before the meeting, it is more difficult for bulls to increase relative to shorts. After the specific interest rate hike results are announced, gold and silver prices may rise slightly. In general, the gold price operating range can refer to the -USD range, and the silver price may operate in the US dollar range.
According to analysis of the news, the spot gold price in the US market once plunged, reaching as low as .US$/ounce. It has broken through the key price level and recorded a weekly decline of . increase. The U.S. dollar rose against the yen on Friday due to market rumors that the Bank of Japan would consider implementing negative interest rates for lending to financial institutions. The strength of the U.S. dollar triggered a decline in gold. In addition, Asian and European stock markets have stabilized and risk aversion has cooled down. In addition, gold's sharp fluctuations on Thursday also triggered profit-taking.
Technical analysis, spot gold was observed in the hourly time cycle in the last trading day, and it has accelerated in the hourly time cycle. Today, investors focus on whether the gold price can stabilize at the form support point, if the Asian market If the exchange rate does not show obvious signs of weakening during the session and can have sufficient momentum, then the possibility of gold continuing to move downward increases, and the target is directly pointed near the 3 line.
Short-term weak support/strong support
Short-term weak resistance/strong resistance
Trading direction: short on rallies
Spot silver/USD basically follows the trend pattern of gold, rising from the hourly time period yesterday After observing that the Bollinger Lower Track went straight, a certain top pattern has appeared above, and then the previous time period closed the negative line of continuous breakthroughs below the Bollinger Middle Track point, resolving the bottom point of the hourly chart and the Bollinger Middle Track. The signs of attraction are very obvious, and this is the best entry point for short orders. At present, the hourly time cycle is running in the driving wave, and the short-selling strategy is mainly used during the day.
Short-term weak support. / Strong support.
Short-term weak resistance / Strong resistance
Trading direction: short on highs
Strategy: You can refer to selling silver at the US dollar price, and stop loss in US dollars. , target.dollar
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