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Fundamental Analysis
Federal Reserve Vice Chairman Fisher recently stated that the Federal Reserve is close to achieving its full employment and % inflation goals. The official said last week that the Federal Reserve still has the possibility of raising interest rates this month, which helped the dollar stop falling and rebound. The dollar index hit a three-day high on Monday. U.S. economic indicators look solid, and the possibility of U.S. interest rate hikes will rise further in the coming months, which supports a rebound in the U.S. dollar and puts pressure on gold prices.
The Federal Reserve has sent out various signals in recent days, leading the market to expect that Federal Reserve Chairman Yellen may continue to send signals this week. The annual meeting of global central banks will be held in Jackson Hole in the United States on March 1. Federal Reserve Chairman Yellen will He will speak on the second day of the conference and investors will need to pay attention.
Technical Analysis (US Gold)
After the gold price fell under pressure in the morning, it formed a gap and opened low, and has been oscillating sideways at a low level and oscillating between. For the European trading period, it is still It is still range-bound, but for the signal of the US market, we still pay attention to the choice of breaking the position before the evening, so as to give a clearer and more stable signal.
From the current hourly chart, the Bollinger Bands are basically in a slight downward opening trend. The gold price is moving downward along the periodic moving average and the lower track of the Bollinger Bands. The indicators in the attached picture cross the zero axis and are downward. Divergent, the short-term operation is bearish.
Looking at the current graph, the morning decline did not continue in the European market, which indeed compressed the decline space. The key to the evening is the watershed position, but even if it breaks through, it will still be a shock pattern. The strong resistance position above will only fall below. Will open the downside to focus on the support position.
Crude oil
Looking at the daily chart, the Bollinger Bands are opening, and the oil price is running below the upper track of the Bollinger Bands, forming strong resistance on the upper track. The golden cross of the sub-chart indicator is running near the axis, and the red kinetic energy is shrinking. The market indicators turned downward, and the bulls weakened. Looking at the four-hour chart, the Bollinger Bands narrowed slightly, and the oil price ran on the middle track of the Bollinger Bands. The middle track formed support. If this support was broken, the oil price fell unstoppably, and the moving averages crossed downwards. And formed resistance, the sub-chart indicators crossed above the axis, the green kinetic energy increased, the market indicators turned downward, and the short positions were obvious. In summary, from the perspective of technical indicators alone, the short positions were dominant, and the oil price fell slightly in the Asian market. The market rebound failed, and the U.S. oil price is expected to continue to go short. In terms of operation, it is recommended to go short on the rebound, bring a stop loss, and do not operate against the trend.
Strength level
Support level
Bounce above as a strategy. Short, add short, stop loss target
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