Industrial Investment: The US dollar regains its upward momentum Gold's decline welcomes Powell's speech

Industrial Investment: The US dollar regains its upward momentum goldDownward Welcome Powell's Speech
2018year8month24day
gold
International spot gold was traded on the previous day20After the daily moving average was blocked and a cross star with a reversal signal was included, it oscillated downward overnight, with the lowest test1183.75. Implied in the minutes of the Federal Reserve meeting9After the monthly interest rate hike, several senior officials from the Federal Reserve delivered speeches emphasizing the Fed's independence, ignoring Trump's criticism, further confirming the prospect of interest rate hikes, and promoting the US dollar's independence95.00After stabilizing on the front line, the increase will continue to expand, suppressing commodities priced in US dollars. In addition, the relationship between China and the United States160Tariffs on billions of dollars worth of goods have landed as scheduled, and trade frictions continue to be tense, which has also pushed up the US dollar. Tonight, Federal Reserve Chairman Powell will deliver a speech at the annual meeting of global central banks, focusing on whether he can strengthen his exceptionally optimistic stance on the US economy and interest rate hikes under Trump's pressure. If Powell's rhetoric is hawkish, gold prices may further decline, and vice versa.
Technically speaking, the daily chart is20The daily moving average was hindered and closed lower, with random indicators tending to further decline.
Key resistance: 1189/1193/1200
Key Support: 1183/1176/1170
Today's suggestion:
Hour chart from1200The first line of oscillation is downward, and the rebound lacks momentum and is still bearish.4The hourly chart further retraces, but there is still a risk of further decline. Suggestions for the day1190Seeking opportunities for short selling in the face of obstacles on the front line, breaking down1183follow-up.
silver
After three consecutive days of consolidation, silver finally broke through and continued its previous downward trend, reaching its lowest point14.46There may still be room for further decline. After the minutes of the Federal Reserve meeting, the US dollar reversed its decline in the first half of this week, starting from95.00A strong rebound on the front line suppressed silver, mainly due to the prospect of the Federal Reserve raising interest rates. Tonight, Federal Reserve Chairman Powell will deliver a speech at the annual meeting of central banks worldwide, and his stance is expected to drive the market further.
Technical aspect, daily chart subject to10The daily moving average is suppressing a rapid decline, and random indicators indicate further downward space.
Key resistance: 14.56/14.64/14.73
Key Support: 14.46/14.40/14.31
Today's suggestion:
The hourly chart fluctuates downward, while the short-term downward trend remains intact,4The hourly chart moving average system diverges downwards, and short-term oversold may provide opportunities for rebound and short selling at high levels. Suggestions for the day14.56Short on the front line, break down14.46follow-up.
copper
The price of copper once rose from2.7000Accelerate downward from below, minimum test2.6114Subsequently, copper prices stabilized and rebounded, recovering most of the lost ground on the day, recording a candlestick with a long downward shadow. However, the rebound in copper prices may still be difficult to sustain, and the heavy pressure above may limit the rebound space of copper prices. The rebound of the US dollar from its low position and a new round of targeting by China and the United States160The landing of tariffs on US dollar goods is not conducive to copper prices. However, in China's tax list, metal waste is prominently listed, and due to expectations of supply tightening, the domestic real copper price in China has significantly increased, limiting the decline in copper prices. In this context, it is expected that copper prices will remain volatile at a low level, but the trend may still be slightly weaker.
Technically, the overall downward trend of the daily chart remains intact, with random indicators indicating further downward space. However, the candlestick with a downward shadow overnight indicates support below or weak oscillation.
Key resistance: 2.6620/2.6860/2.7000
Key Support: 2.6115/2.6000/2.5850
Today's suggestion:
The hourly chart initially suppressed and then rose, but the rebound was limited and still bearish.4The hour chart rebound lacks follow-up, and short-term resistance lies in2.6600Above. Suggestions for the day2.662Short below, break below2.6115follow-up.