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12.22 The latest market trend analysis of gold and crude oil and today’s exclusive operation suggestions and guidance
Wonderful introduction:
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: 12.22 latest market trend analysis of gold and crude oil and today's exclusive operational advice and guidance." Hope this helps you! The original content is as follows:
In this unpredictable long and short market, some people can make money, but there are also many friends who are not doing well enough. When it's time to go short, be afraid of going high. When it’s time to go long, you’re afraid of falling back. In fact, this is the human heart, and the human heart is the most www.xmtraders.complex technology. Sometimes you will know that what really affects you is not the price, but too many things in your mind. The biggest risk in investing is not knowing what you are doing. A person without goals will eventually achieve the goals for others; a person without a plan will eventually be planned by others. The biggest enemy of trading is not others but ourselves.
Analysis of the latest gold market trends:
Analysis of gold news: During the Asian market on Friday (December 22), the price of gold was trading around US$2,048 per ounce. As the market continues to bet that the Federal Reserve will cut interest rates in early 2024, the price of gold remains within the trading range established in the past week. Expectations for a March rate cut remain despite other warnings from Fed officials Some Fed officials have warned that bets on the Fed cutting rates early are exaggerated, but that hasn't stopped expectations that the Fed could begin cutting interest rates as early as March 2024. Fed funds futures showed traders saw a 67.5% chance of a 25 basis point rate cut in March, up from 62.7% the previous day. That www.xmtraders.comes despite warnings from some Fed officials that there remains uncertainty over the timing of a rate hike amid high U.S. inflation. The resilience of the U.S. economy may also give the Fed more room to keep interest rates higher for longer. Nonetheless, gold will continue to suffer given that higher interest rates drive up the opportunity cost of investing in gold.Benefit from the lower interest rate environment. But rising risk appetite could curb gold's gains, especially if the U.S. economy shows more signs of a soft landing. The situation is also expected to weaken safe-haven demand for gold. This week, investors will focus on November core PCE price index data due to be released on Friday. Investors can focus on this.
Gold technical analysis: Gold retraced its small negative line yesterday, and stopped after hitting the 27 line as low as possible. It fluctuated within a small range during the day, and the range was very small. The daily line also closed in the form of two yang and one yin, or it seemed like the bulls were self-repairing, while the pressure above continued to remain around 40. This position seemed to be broken with a snap, but in fact it was under heavy pressure. It was likely to be pierced again in the evening, but the probability of a strong break was low. If the bulls want to exert force again, it is likely to be an opportunity for the bears to enter the market again, while the support below remains at the area near 25. This position is also related to the position of yesterday's low. At the same time, the current daily moving average system seems to be favorable, but it is likely to be an illusion given to the bulls. In terms of the current overall situation, the conditions for continuing to do long are not sufficient. At the 4-hour level, the Bollinger Bands opened, and the price broke through the resistance of the upper track, relying on the upper track to fluctuate. Personally, I don’t expect the correction to be too strong during the day, because strong market conditions usually don’t give much scope for correction, and we should treat it with a long callback approach in the short term. On the whole, today's short-term operation of gold, He Bosheng suggests to focus on the low and long rebound, supplemented by the rebound high. The top short-term focus is on the 2060-2065 first-line resistance, and the bottom short-term focus is on the 2040-2035 first-line support.
Analysis of the latest crude oil market trend:
Analysis of crude oil news: On Friday (December 22) in the Asian market, crude oil prices were trading around US$74.30 per barrel. Angola said it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group's efforts to support prices by restricting global supply. At the same time, tensions in the Middle East intensified, U.S. economic growth slowed and crude oil production increased, causing oil prices to fall by more than 2% on Thursday. However, as expectations for an interest rate cut by the Federal Reserve in March increased, the U.S. dollar index continued to weaken, helping oil prices recover their losses. Angola’s oil minister says it is not in the country’s interests to join OPEC. In recent months, a group of oil producers led by Saudi Arabia has been seeking support to deepen production cuts and boost oil prices. Angola's output is about 1.1 million barrels per day, www.xmtraders.compared with 28 million barrels per day for the entire OPEC group. Angola's withdrawal raises questions about OPEC's cohesion and direction, even though it is one of the smallest producers and its exit is likely to have a limited impact on global supply. At a meeting in November, Angola protested OPEC's decision to cut production quotas for 2024 to help support oil prices. Some economists said that the U.S. economic growth data for the third quarter was lowered. The data showed that the country's gross domestic product increased by 4.9% from the previous quarter, lower than the previous estimate of 5.2%. Additionally, the manufacturing index fell to -10 in December.5, down from -5.9 last month, while jobless claims rose to 205,000 last week. The figures suggest economic activity may slow in the year-end quarter, hinting at lower energy demand and thus affecting crude oil markets.
Crude oil technical analysis: Crude oil rose first and then fell yesterday, testing high and falling back to close the small Yin cross K line. After refreshing the high of 75.35, it came under pressure again in late trading and fell back to refresh the intraday low, breaking the strong ascending pattern at the beginning of the week. It closed at a low level in late trading, with some signs of a second rebound in shock. In the 4-hour chart, a wave of three consecutive negative trends has brought it closer to the middle rail. The middle rail is the lifeline of bulls. If it falls below it, it will break the strong trend. However, the upward trend line fell below yesterday. Pay attention to whether the Asian market can stabilize above the middle rail today and regain lost ground. If the mid-track is stable, we are still bullish. On the contrary, in the short-term, we will see a second step back. The long-short switch is just a thought. Pay attention to the formation of small cycles. At present, 67.80 is used as a one-wave rebound. Part of it can be stepped back for a second time, or it can continue to rise after consolidation. It depends on which way it appears. The intraday pattern will prevail. On the whole, today's short-term operation of crude oil, He Bosheng recommends to focus on the low and long prices, supplemented by the rebound from high altitudes. The top short-term focus is on the 76.0-77.0 first-line resistance, and the bottom short-term focus is on the 73.0-72.0 first-line support.
He Boxheng’s message: I believe that every friend who makes spot investment www.xmtraders.comes with one purpose, and that is to make money! If you can't make money in this market, it becomes meaningless! He Bosheng's investment and financial management world contains countless wealth. It is not necessary and impossible for us to collect all its wealth overnight. Throughout my investment career, I have always adhered to this investment philosophy: the most important thing about investing is not how much you can earn at one time, but whether you can control risks, make peace with yourself, and survive for a long time. Our accurate judgment has convinced too many people. We have always been very high-profile, but never out of tune. We only take care of those who are destined to us!
This article was exclusively planned by He Bosheng, a gold and crude oil analyst. I would like to thank the readers for their love and support for He Bosheng’s article. I hope everyone can gain something and gain insights from He Bosheng’s article! Whether you agree with the views and strategies of the article or not, you can www.xmtraders.come to me to discuss and learn together! Nothing is difficult in the world, as long as there are people who are willing. Investors should be wary of the same article content and fields that appear after this time period! Investment itself carries risks. I remind everyone to look for authoritative platforms and powerful teachers. Fund safety www.xmtraders.comes first, secondly consider operational risks, and finally how to make profits. The content is only a sharing of personal opinions and does not constitute any relevant investment advice. Investment is risky, so be cautious when entering the market!
The above content is all about "[XM Foreign Exchange Platform]: 12.22 latest market trend analysis of gold and crude oil and today's exclusive operation suggestions and guidance". It is carefully www.xmtraders.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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