Zhenjiang Commodity Trading Center Members: Friday Gold Review

[Market Dynamics]
Silver prices adjusted within a narrow range in the morning, but the market as a whole maintained a bullish upward trend. As the European Central Bank announced policy easing overnight, investors' expectations for future liquidity increased, pushing silver prices to rebound upward.
As of Beijing time, the trend of silver was quoted at 1 yuan, which was 1 yuan higher than the opening price. During the period, the highest price reached 1 yuan and the lowest price dropped to 1 yuan.
Overnight, President Draghi of the European Central Bank announced that it will stop buying bonds every month starting from March and continuing until March. And if the ECB's easing policy continues until next month, the total scale will reach 100 million euros. Affected by this news, investors' expectations for future liquidity have increased, thus boosting bullish sentiment in the silver market and supporting an upward rebound in silver prices.
After the European Central Bank interest rate meeting, this week the market focus began to turn to the weekend Greek election. If Greece is unable to reorganize its government during the current situation, the resulting increase in market risk aversion will suppress the stock market and other risk assets, and gold and silver will be supported and rebound upward.
In the United States, overnight the number of people filing for unemployment benefits in the week announced by the United States decreased by 10,000 to 10,000. The market expected it to be 10,000, and the previous value was revised from 10,000 to 10,000. However, the four-week average number of initial jobless claims announced at the same time increased by 1,000, reaching the highest level since January 2019. This has boosted some investors' concerns about the U.S. job market, which has in turn put pressure on the U.S. index and is good for a rebound in silver prices.
In terms of the U.S. dollar
As for the United States, the United States will release the monthly service industry purchasing managers index and monthly existing housing stock in the evening. The data is expected to continue to improve, while in the environment of Europe once again expanding the monetary base, the contraction environment This will help the U.S. dollar continue to remain strong. Operationally, the U.S. dollar index can stabilize during the day and has the momentum to continue rising to challenge the digital position.
[Technical aspect]
Silver aspect
The daily chart closed yesterday with a long lower lead positive column, which has broken through the previous day's upward high of the US dollar line. The red kinetic energy of the indicators on the daily chart remains strong, the indicators increase in volume and diverge, and the indicators run at a high level and are flat. From a long-term perspective, the increase in the daily level does not meet the demand for a unilateral upward move.
Silver showed a concussive upward trend yesterday evening, and the rising arrangement of the moving average system has recovered. The indicator's fast and slow lines are glued in the oversold area, and the green kinetic energy column has not changed much. The indicator is still operating near the line, with no clear directional indication in the short term. Overall, silver prices are still weaker than gold prices, but the pace is relatively stable and regular.
In addition, the price of silver rebounded upward in the hourly chart. The rail opens and the silver price moves between the upper rail line and the middle rail line. In terms of moving averages, the daily moving average moves upward, and the silver price moves above the daily moving average. The indicator runs downward, and the momentum of the bulls gradually shrinks. The indicator double line forms a dead cross downward.
Taken together, the price of silver maintains a rebound trend and continues to rise upward. At this time, it is recommended that investors maintain a long-term thinking and continue to operate based on the idea of going long on dips.
[Silver Operation Suggestions]
, The upper line is short, place the stop loss, look at the target first, and see the breakthrough
, The lower line is long, stop the loss by a few points, and look at the target