Wu Tao points gold: The end of the golden week line looks to be corrected Crude oil is still being treated as volatile

Today's market analysis:

goldYesterday saw the largest single day decline in a year, starting from early trading1552Starting to decline, breaking through continuously4The support level at the Daoguan Pass, with the lowest touch1506The position has stopped falling and rebounded, with a drop exceeding3%Yesterday's sharp decline was mainly due to the easing of trade war sentiment andADPBetter than expected, the institution experienced a significant sell-off resulting in profit taking!

Today's focus is on non farm payroll data, previous values16.410000 people, expected15.8Ten thousand people. From yesterday'sADPAccording to the data, it is greater than16Ten thousand people shouldn't be a big problem. So it is highly likely to be negative for gold, but this cannot be used as a basis for entry! The key still depends on how the European market goes today.

Today, we will focus on the trend of the European market. If the European market is weak, it will continue to decline and fluctuate downwards without breaking through1520-22The resistance level, so before the US market6-8Point's draw is our opportunity to enter the market empty handed, let's see if gold can make another move with the help of non farm payroll data!

Today's main focus is on market volatility correction or rebound correction, so today's Asia Europe session is mainly focused on the high point of yesterday's rebound in the late trading session1520-22If the resistance level is not broken, then the European market can directly participate in short positions below this level. If there is a breakthrough1522At the resistance level, the market may initiate a rebound correction, while the upper pressure level is at1530-33Location.

Take another lookcrude oilYesterday, with the help of crude oilEIARise and fall. The triangular arrangement pattern of the daily chart has not changed. So we cannot be overly bullish or bearish, we should approach it with a volatile mindset. Upper resistance level triangle oblique edge*Still in57Above, the downside is57.2position Supported below55.3-55.4Nearby. So continue to watch range fluctuations within the day!

In summary:

Today, gold is being watched in the Asia Europe market1520-22If the resistance of the Asian European market does not break, then you can directly participate in short positions in the afternoon European market. Let's take a look1510-1505position If there is a breakthrough1522The market situation needs to wait1530Go participate in empty orders above! Below given1503Go directly to participate in multiple orders based on the location, the goal depends1508-1520！

Crude oil in57Participate in empty orders above, below55.3-55.4Just participate in multiple orders nearby and watch the range fluctuations!

This article's personal opinion on strategy is for reference only. For more analysis articles on gold, crude oil, and the Hang Seng Index, please search and follow. Futures market strategy.

writing/Wu Tao points gold