Xue Wenxi:10.23Gold seeks a breakthrough, and there will be significant changes on Black Friday!

Xue Wenxi:10.23gold寻求突破，黑色星期五将有大变动！


Spot goldRSIThe technical indicators continue to show an upward trend. The key turning point of the US market has moved downwards compared to the European market1903Currently, gold is operating in1903Above, pay attention to above1920and1926Resistance level of; If the spot gold falls below1903Consider strategyBThe lower support is dense, and the first support position is1899, and then1894。

Interpretation of the Golden News Surface


Yesterday, gold prices fell, and spot gold briefly fell close to30The US dollar has reached a new low in the past week, reaching1894.74dollar/Ounces, further weighing on gold prices due to better than expected US employment data, a strengthening US dollar, continuous rise in US bond yields, and concerns about the possibility of an economic stimulus plan before the US presidential election. But Speaker of the US House of Representatives Pelosi once again hinted at progress in stimulus talks, keeping gold prices at a close of1900美元上方。贵金属futures整体疲软，皆拜美元走强及国债收益率上涨所赐；二者使不提供收益率的贵金属价格遭受双重打击。美国国会仍在就刺激法案进行磋商。标普500The weekly decline of the index narrowed, while financial stocks rose nearly2%Energy stocks followed the rise in oil prices, while small cap stocks rose1.5%. Negotiations on Washington's stimulus plan remain the focus of investors' attention, and lawmakers are still in negotiations. Although House Speaker Pelosi expressed optimism about reaching a deal with the government, the Republican controlled Senate still opposes a large-scale agreement, which reduces the likelihood of reaching a deal before the election.


Gold Market Analysis


Yesterday, the US dollar index stabilized and rebounded after four consecutive trading days of decline. Pelosi warned that it may still take some time for the stimulus plan to be passed by Congress, and the market is still waiting for the final negotiation result of the US stimulus bill, which has to some extent eased the selling pressure on the US dollar. The current market sentiment towards gold trading is very unstable, and there were no obvious winners in the election debate on Friday morning. The daily gold market still tends to fluctuate.

The Asian gold market held onto yesterday's low and fluctuated, while the European market failed to break through the low after opening and broke through upwards1908At the last high point of last night's trading session, the European market continued to weaken without breaking through the low point, and in the short term, it transformed into a volatile trend. At the same time, after stabilizing the low point, we first looked for a rebound, and before the US market, we will continue this wave of rebound. At present, the hourly chart still has a continued rebound momentum, with gold in one hourkThe candlestick line is directly raised vertically, piercing through the middle track. The Bollinger band track is noticeably tilted upwards, with the opening just opening and signs of enlargement. The middle track is actually a moving average, directly supported by the moving average, and lifted by the middle trackkClimb up the peak line while breaking through1907Convert this position to support. Wen Qian believes that evening operations can be relied on1907From above, we can directly enter the long position. Overall, Wen Qian suggests that in terms of operation, the lower position should be the main focus, and with a good stop loss on Black Friday, we should boldly enter the long position!


Suggestions for Gold Operations:


gold1910-1907First line advance, stop loss1905, Objective1925-1930frontline;


goldTDOperation suggestions


goldTD402Close in, stop loss401, Objective404-405Nearby;

Friends who make profits in this market should not always think that they are lucky. They can easily make profits without learning and relying on experience and intuition. This market is deep and turbulent, and blindly entering it will definitely capsize. Therefore, in the market, choice determines the length of the road and also the fate of the financial career. Luck can bring profits once or twice, but it cannot remain the same as before. Without strong abilities, it's like not knowing how to swim and having to go to the river. While others are enjoying the beautiful scenery by boat, you are constantly trying to survive.


Editor of this article: Xue Wenqian