Industrial Investment: A Short Challenge for Gold1350High level, but cautious of risk sentiment warming up

Industrial Investment:goldShort term challenge1350High level, but cautious of risk sentiment warming up
2019year6month19day
gold
On Tuesday, international gold surged again, reaching a high of1354.50Due to European Central Bank President Draghi unexpectedly singing a "dove", the expectation that global central banks will enter a loose cycle has been strengthened. Draghi stated that if necessary, he will not hesitate to take lenient actions. In addition, weak US real estate data has also raised market expectations for the Federal Reserve to cut interest rates. The US data released in early trading in New York was mixed, with better than expected construction permits but poor new home starts, resulting in a month on month decline0.9%, much lower than the previous value6.8%However, the gold price failed to stabilize at a high level and quickly fell sharply, as the good news of a regular phone call between the heads of state of China and the United States eased trade tensions. The intraday gold price hit its lowest point1338.51, ultimately received at1345.36, slightly down from the previous day0.43%This evening, we will focus on the Federal Reserve's interest rate decision and Chairman Powell's speech. Although the market expects the Federal Reserve to keep interest rates unchanged this time, whether Powell will release a signal of interest rate cuts and use mild language is the focus of attention. If risk appetite continues to rise, it will obviously be unfavorable for gold bulls.
Technically speaking, the daily chart gold price continues to hover at a high level, and the elongation of the upper shadow line means that there is still significant resistance above. Only effective breakthroughs1360Resistance is the only hope for gold prices to rise before testing1375。
Key resistance:1350 / 1357 / 1365
Key Support:1335 / 1330 / 1320
Today's suggestion:
The hourly chart is currently fluctuating and declining,MA14Reverse and pass downwardsMA20Implies that there is still downward pressure in the short term;4Hour chart, although moving averageMA14Currently providing support, but slow paced random indicators are bearish. Follow within the day1335This support and1350This resistance. Breaking through either side will provide further room for development. It is expected that gold prices will tend to fluctuate within a range before the Federal Reserve's interest rate decision.
silver
Starting from the Asian market, silver continued to rise on Tuesday due to multiple positive news. Driven by Draghi's unexpected dovish move, the market expects the European Central Bank to soon adopt interest rate cuts or provide easing measures to counter the negative impact of negative interest rates. In addition, the start of new housing construction in the United States and weak data from the New York Fed's manufacturing index have also helped push up expectations of a Fed rate cut. The highest silver price reached during the trading session15.060Lowest drop to14.794Report collection14.983, a significant increase compared to the previous day1.15%However, the bulls are currently facing challenges, one of which is that Chinese national leaders are willing to work with TrumpG20The summit held a meeting, leading to a resurgence of risk sentiment;Another possibility is that Federal Reserve Chairman Powell may face the risk of being downgraded, as there are rumors that the White House has expressed disappointment with the Fed's interest rate hikes since this year2The legitimacy of downgrading Powell began to be discussed in the month. Focus on the Federal Reserve's interest rate decision in the evening, and whether silver bulls can continue to gain an advantage still needs to wait for the Fed's final "judgment".
Technically speaking, the daily chart continues to stabilize atMA14Above, but still unable to break through15.129Resistance continues to operate within the ascending triangular shape as a whole.
Key resistance:15.00 / 15.10 / 15.15
Key Support:14.80 / 14.70 / 14.60
Today's suggestion:
1The hourly chart has rapidly declined since the opening of the Asian market, with slow paced random indicators approaching oversold areas and bearish signals slightly recovering;Currently in14.80Narrow width sorting in a single line.4The hour chart struggles15On the front line, although the overall trend is still on the rise, the trend is relatively volatile. If it falls below14.80Consider short selling in the short term.
copper
Copper price bulls exploded completely on Tuesday, starting from the low point2.6415Passing through all levels and breaking through the consolidation trend that lasted for two weeks, reaching its highest point2.7095As of the close, copper prices have closed2.7028, a significant increase compared to the previous day2.06%All the focus in the current market is on the upcoming Federal Reserve interest rate decision. Faced with recent pressure from US President Trump to cut interest rates, although the Federal Reserve will maintain interest rates unchanged this time, it is not ruled out that it will release relevant signals of interest rate cuts. In addition, the "dot matrix pattern" is also worth paying attention to. The intraday market sentiment and the performance of the US dollar will determine whether copper prices can continue to rise.
Technically speaking, the daily chart has finally broken through the two-week consolidation range, but there is resistance above2.7160-75The region still deserves attention, and if the breakthrough fails, it is expected to return to the consolidation zone.
Key resistance:2.7100 / 2.7160 / 2.7175
Key Support:2.6930 / 2.6885 / 2.6785
Today's suggestion:
The hourly chart is currently at a high level2.7000One line narrow amplitude oscillation;4The slow paced random indicator on the hourly chart continues to operate in the overbought area, and the Poly Plus channel remains open. Seeking opportunities to buy at low prices within the day, waiting for copper prices to correct2.6930Buy nearby.