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9.8 Analysis of the trend of gold and crude oil market today and the latest exclusive operation suggestions on Monday
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: Analysis of the up and down trend of 9.8 Gold and crude oil today and the latest exclusive operation suggestions on Monday". Hope it will be helpful to you! The original content is as follows:
The investment market always has four levels: keeping the principal, controlling risks, earning profits, and making long-term and stable profits. Don’t determine the result because of the winning or losing of a day. Is it accidental or inevitable to make money, whether it is based on real effort or luck. Those who can survive in the market will definitely be investors who can eventually make long-term profits. Trading is a good habit, strictly implement your trading plan. A rigorous transaction = good mentality control + correct position control + strong technical skills, never force buying and selling for cooperation. Opportunities are reserved for those who are prepared. The right choice is greater than a hundred times hard work. If you trust the teacher, I will give you a satisfactory return. You just need it, and I happen to be professional!
The latest gold market trend analysis:
Gold news analysis: Last Friday, as weak U.S. employment data further increased expectations for the Fed's interest rate cut, the strong gold rise has new momentum, and the price of gold is only a few cents away from $3,600 per ounce. Spot gold rose 1.4% to $3596.55 per ounce, after hitting a record $3599.89, with gold hitting its strongest single-week gain in nearly four months. Geographical situation this week may also support gold prices to continue to rise. Ukrainian President Zelensky rejected Putin's invitation to meet in Moscow. Zelensky said Putin "can xmserving.come to Kiev." Traders are currently betting that the odds of a 25 basis point cut in September are 90% and the odds of a 50 basis point cut are 10%. Goldman Sachs said that if the Fed's credibility is damaged and investors convert a small portion of U.S. Treasury bonds into gold, the price of gold could rise to nearly $5,000 per ounce.
Gold technical analysis: from the market trendLook, the daily line and the K-line continue to maintain a good upward trend along the short-term moving average. On the 4-hour trend, gold xmserving.completed a high-level oscillation repair and then rose twice. On the hourly trend, the current technical pattern is weak. Gold still has no major unilateral decline trend, and the bulls are still relatively strong. This week we continue to maintain the idea of retracement and longing to grasp. xmserving.compared to before the closing, we touched the 3600 line. Then if the bulls continue to make a strong move this week, it will be difficult for the 3600 line to resist the steel torrent of the bulls. It is only a matter of time before the market is over. However, it may be necessary to retrace back and accumulate strength and then sprint again. This week we will continue to focus on retracement and longing, and bulls are still the main trend. The support below focuses on the short-term support of the 3558-63 line, and pays attention to the important support of the 3538-45 line. The short-term bulls' strong dividing line moves up to the 3510 line mark, stabilize above 3530 and continue to maintain the rhythm of retracement and long retracement. Try not to participate in short orders against the trend. Overall, in terms of gold's short-term operation ideas today, He Bosheng recommends that the main focus is on retracement and low-long, rebound high-altitude as the auxiliary. The short-term focus on the 3600-3610 line of resistance above, and the short-term focus on the 3570-3560 line of support below.
The latest trend analysis of crude oil:
Crude oil news analysis: Oil prices fell last Friday as weak U.S. employment data weakened the outlook for energy demand, and the market expected OPEC+ to further increase production at the weekend meeting, exacerbating the risk of oversupply. Brent crude oil futures closed at $65.50 per barrel, down 2.22%; U.S. crude oil futures closed at $61.87, down 2.54%. This is the third consecutive day of oil prices falling, reflecting the intensified market concerns about supply and demand balance. According to market research, OPEC+ will hold a meeting this Sunday, and eight member states and major oil-producing countries such as Russia are discussing whether to increase production further in October. If this decision is implemented, it means that OPEC+ will lift the production cut of about 1.65 million barrels per day more than a year ahead of schedule, accounting for 1.6% of global demand. The current oil price trend is obviously subject to the tug-of-war of supply and demand expectations. On the one hand, if OPEC+ relaxes production cuts in advance, it will increase supply pressure; on the other hand, the United States' push to reduce Russia's exports may bring about a new supply gap. The uncertainty in the oil market will further increase in the short term, and price fluctuations may continue.
Crude oil technical analysis: From the daily chart level, after the K-line continues to close and stop, it forms a bottom of a narrow range, and the oil price gradually crosses the small-level moving average, and the overall situation is still suppressed, and the medium-term subjective trend is downward. From the perspective of kinetic energy, the MACD indicator forms a golden cross below the zero axis, indicating that the action energy gradually weakens signal appears, and it is expected that the medium-term trend of crude oil will remain downward. The short-term (1H) trend of crude oil continued to fall sharply, and oil prices hit around 62.40. The moving average system suppresses the short-term short-term objective trend direction remains unchanged. The MACD indicator crossed the zero axis, and the bear momentum still performed strongly. It is expected that the crude oil trend will continue to decline during the day. All in allIn summary, in terms of today's operational ideas of crude oil, He Bosheng recommends that rebound high altitudes should be the main focus, and the retracement should be the low long as the auxiliary. The short-term focus should be on the 63.5-64.5 line resistance at the top in the short term, and the short-term focus should be on the 61.0-60.0 line support at the bottom.
This article is exclusively planned by gold crude oil analyst He Bosheng. Due to the delay in online push, the above content is personal advice. Because the online publication is timely and the suggestions in the article are for learning reference only, and the risks of operating based on this are at your own risk. No matter whether the views and strategies of the article are consistent with everyone's opinions, you can xmserving.come to me to discuss and learn together! There is nothing difficult in the world, I am afraid of those who are interested. Investment itself carries risks, reminding everyone to identify the authoritative platform and the strong teacher. Fund safety is the first priority, secondly, consider operational risks, and finally how to make a profit.
The above content is all about "[XM Foreign Exchange Market Review]: Analysis of the 9.8 Gold and Crude Oil Today's Market Trend and the Latest Exclusive Operation Suggestions on Monday". It was carefully xmserving.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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