Chen Zeqiang:7.12Analysis of the latest market trend of spot gold and the latest trading operation of crude oil...

Acquaintance is fate, acquaintance is fate. I firmly believe that it is fate to meet for a thousand miles, and it is fate to wipe our shoulders without a share. The journey of investment is long, and temporary gains and losses are only the tip of the iceberg along the way. You should know that a wise man who has a thousand worries will have a loss, and a fool who has a thousand worries will have a gain. No matter how emotional you are, time will not stagnate due to you. Pick up the boredom in your heart and stand up again to pack up and move forward. At this moment, being able to read here indicates that you and I are destined. As long as you are willing to share your gains and losses with me, I will be happy to help you overcome difficulties and become your confidant on the investment journey. The stagnation of your heart makes you sit at the bottom of the well and sigh in the sky. Am I fortunate enough to accompany you as I pass by.

Message surface

Monday(7month11day)In stockgoldGoing lower again, falling towards the level created in the previous week2021year9Monthly low point1732.17dollar/Ounces, USD Index Reaches Close Again20The annual high has put pressure on demand for gold denominated in US dollars. Faced with such a strong US dollar, other economies have little spare power to resist inflationary pressures through a "reverse currency war" - raising their own currency against the US dollar. Spot gold has fallen again, falling towards the level set last week2021year9Monthly low point1732.17dollar/Ounces, USD Index Reaches Close Again20The annual high has put pressure on demand for gold denominated in US dollars.

Evening Gold Analysis

Although there was some rebound after the opening of the golden day, the high point only rebounded to1745On the first line, it continued to weaken and fluctuate again, and the low point of the European session fell to1733。 At present, although gold is relatively weak, its downward revision is still relatively small compared to the rebound of the US dollar index within the day, indicating that gold bulls have a certain bullish willingness. However, despite the US dollar index's continued strong pressure, short-term upward confidence is still insufficient.

Should we focus on the following aspects for evening gold1730In terms of competition, technically, we do not expect the market to fall below this level, but unfortunately, the emotional bias of the US dollar index suppresses it. Therefore, if there is a fall, there should be no accidents, and appropriate risk prevention measures should be taken. Gold cannot rebound horizontally1750Pressure is just a bear! if1730If you fall tonight, follow below1720Nearby support testing,

Midnight operation suggestions

Gold in1742Short nearby, stop loss1748Stop surplus1735-1732；

　　crude oilTrend analysis:

Monday(7month11day)After two trading days, international oil prices fell again, as new variants emerged in Shanghai, preparing the market for a new round of impact on the demand side. But tight supply limits the downward space for oil prices. The market still feels uneasy about Western countries' plans to limit Russian oil prices. On whether Kazakhstan can continue to pass through the Caspian Sea Pipeline Alliance(CPC)There are still doubts about exporting crude oil. At present, the fundamentals of crude oil remain unchanged in terms of supply and demand. From the supply side,OPEC+The production restriction agreement has not yet ended, and currently the market widely believes that even if the production restriction agreement expires, relevant countries are unlikely to complete large-scale production increase in a very short period of time. The overall bearish situation is controllable, and the market is more concerned about changes in demand expectations. Due to the conflict between Russia and Ukraine, which has changed the trade structure of the global energy market, demand in the European market is also declining. High energy prices have severely disrupted demand in Europe, even overturning previous expectations of a significant increase and turning them into a downward trend. Coupled with the Federal Reserve's continuous interest rate hikes and balance-sheet tightening actions, commodities, including crude oil, are facing increasing pressure.

Crude oil fluctuated and fell at the beginning of the day, but did not continue the upward trend of last Thursday and Friday. The low point of the market fell back to101.6On the first line, although the pullback was within expectations, the sustained pace of decline within the day exceeded expectations. This also indicates that the market does not recognize the abnormal upward trend last Thursday and Friday, and the short-term trend rhythm has also changed due to the intraday trend. Therefore, appropriate adjustment strategies and expectations are also needed for the day. Attention above short-term crude oil103.5-8Short pressure, follow below5Daily line101.3-0The competition for support in the area, based on the current situation, the short-term decline has exceeded expectations. If the market closes today5Under the daily line, it is possible to adjust the pace again earlier, but it is also necessary to guard against the risk of continued abnormal market conditions. At present, the price is close to a low point, and if the operation is aggressive within the day, please refer to it101—103.5Short term low to high, current market tends to fluctuate.

This article is exclusively authored by analyst Chen Zeqiang. I have always been passionate about the gold and crude oil markets. Due to the delay in online push, the above content is my personal suggestion. Due to the timeliness of online publishing, it is for reference only and at my own risk. Please indicate the source when reprinting