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Susquehanna International: Raised the target price for Micron Technology (MU.O) to $200, from $160 previously.Gold options data show that before the Feds decision, the Put/Call ratio continued to rise but was still below 1, indicating that bullish expectations still prevailed, but short- and medium-term precautions against pullbacks increased; the transaction ratio returned to around 0.5, the short-term short-selling momentum weakened, and the market was more inclined to oscillate or slowly rise. The high probability range rose from 15% to nearly 19%, and the slope became steeper, especially above 3680-3700 (spot price of about 3673-3693), indicating that "high prices mean strong waves", and once it breaks through, it is easy to trigger a rapid saw-saw and a false breakthrough. Strategically, pay attention to the gains and losses of 3680-3700: if the position ratio is greater than 1 and the implied volatility continues to rise and approaches 20%, tend to reduce positions at highs and defend retreat; if the transaction ratio continues to weaken toOn September 17th, ahead of the Federal Reserves interest rate decision (widely expected to be a 25 basis point rate cut), long-term U.S. Treasury yields edged lower, with the 10-year yield approaching 4%. Short-term Treasury yields were largely unchanged, as the market has already priced in a rate cut. However, if the decision includes any comments on future interest rate trends, yields could fluctuate. "Bond investors remain cautious, and we expect yields to react," said Frank Walbaum of Naga in a report. The market analyst noted that weakening economic expectations or policy guidance for further rate cuts could lead to further declines in Treasury yields and the US dollar; however, a more cautious signal could provide temporary relief.Novo Nordisk (NVO.N): Trials of semaglutide for Alzheimers disease are "like a lottery."Kremlin: (Regarding the EUs plan to accelerate the phase-out of Russian energy) Russia defends its own interests and will not be affected by sanctions.

Gold trading strategy on October 1st: The price of gold may rise further, and you can consider chasing more if it breaks through 1764

Oct 26, 2021 10:57

Spot gold fell slightly on Friday (October 1), and the short-term technical outlook is likely to rise further. However, the price of gold is still in a downward channel. We are concerned about whether it can break through the upper trend line in the day. .


Daily level: The price of gold rebounded sharply on Thursday, and a "bullish engulfing" pattern appeared on the K-line chart, which means that the price of gold may continue to rise in the near future.

From the technical chart, the price of gold rose strongly to the 23.6% retracement level of 1743.94 and the 10-day moving average, and the short-term downward trend was curbed. In addition, KDJ took the lead to form a golden cross, and the MACD green column quickly shortened, showing that the bull energy is accumulating.

The important resistance above is the downward trend line. If the resistance of the trend line can be broken, the price of gold is expected to exit the downward channel. But if it fails to break through, it implies that the price of gold will continue to fall back. Investors are advised to wait and see for the time being.

The initial resistance above the trend line is at 1764, and further attention is paid to the 38.2% retracement level of 1777.03 and the July 23 low of 1790.26.

The initial support below focuses on the 23.6% retracement level of 1743.94, and further attention to the low of 1721.76 on September 29 and the low of 1705.89 on April 1.

(Spot gold daily chart)

Resistance levels: 1764.00; 1777.03; 1790.26
Support levels: 1743.94; 1721.76; 1705.89

Short-term operation suggestions: wait and see for now, break through 1764 to chase more.

GMT+8 13:51, spot gold was quoted at $1751.53 per ounce.