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On Monday, the news was dull and the US dollar fluctuated within a narrow range. Driven by the sharp fall in oil prices, silver prices fell sharply and finally closed at a high level. The long negative line of the shadow fell by .%.
Fundamental Analysis
The U.S. dollar index closed at a slight .%, the news was relatively dull, the U.S. dollar performance is still relatively weak, and it will continue to test the pressure of the daily moving average in the future.
The plunge in oil prices dragged down silver prices. International oil prices fluctuated and fell on Monday. U.S. crude oil monthly futures once fell by more than % to .USD/barrel, and Brent crude oil hit a low of .USD/barrel. The decline in profits of Chinese industrial companies has made the market worried that China's crude oil consumption will be dragged down. Market expectations The imminent lifting of sanctions on Iran will increase supply in the crude oil market, and oversupply will intensify, causing oil prices to return to decline.
Pay attention to U.S. data released on Tuesday and Wednesday. On Tuesday, the annual rate of the U.S. monthly housing price index for major cities and the U.S. Conference Board Consumer Confidence Index will be announced, which are expected to increase by .% and . Value increases by .%.
Institutional Positions
In terms of gold and silver positions, the world's largest gold position on the solstice is about . tons, which is . tons reduced compared with the previous day. Huang's increase in positions failed to continue. The world's largest silver position was reported at . tons, the position remained unchanged from the previous day, and there was no change in the position in January.
Technical Analysis
Looking at the daily chart of silver, the red column has shrunk, the indicator has crossed, and the moving average system has turned downward, upward, and downward. From the hourly chart, the green column is enlarged, the indicator line turns upward, the moving average system, , and downward diverge, and the weak trend is upward.
Long-short game
The sharp fall in spot gold and crude oil has dragged down the price of gold, and gold has continued to reduce its positions again. The U.S. economic data may be better on Tuesday. The short-term gold price may fluctuate and bearish, with short-term support and short-term pressure.
According to a survey of the long and short views of all analysts in the Mingfu Financial Research Team, % of analysts are bearish on today's market, % of analysts are bullish on today's market, and % of analysts are bearish on today's market.
Reasons to be bullish: The prospect of the Federal Reserve raising interest rates has been questioned by the market, and there is a possibility of a pullback after the short-term plunge.
Reasons for bearishness The plunge in oil prices has dragged down the price of silver. U.S. economic data on Tuesday may be better. The plunge in silver prices on Monday will have a heavy blow to the confidence of bulls
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