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9.10 Gold surged and fell to a resistance and the latest market trend analysis, and the exclusive operation suggestions for crude oil today
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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: Analysis of the latest market trend of gold rising and falling in 9.10, and exclusive operation suggestions for crude oil today." Hope it will be helpful to you! The original content is as follows:
In recent years, He Bosheng’s biggest feeling is that our only purpose in investing in gold and crude oil is to make profits and make money. But it doesn’t mean that you can make money if you want to make money. This requires you to have good psychology and basic knowledge. In cooperating with a trustworthy teacher, and as a teacher, our task is to help everyone control risks and make steady profits (at least He Bosheng’s philosophy is to rather make less money than seek stability and not lose. To put it back ten thousand steps, it means that if you are not sure enough to make you profit, you would rather make less orders or make steady orders than take risks, because He Bosheng does not have the ability to predict the market. I only know that respecting the market means respecting yourself, respecting friends who trust you and cooperate with you to invest with your own money.
Analysis of the latest gold market trend:
Analysis of gold news: Spot gold continued to perform strongly during the European period on September 8, with the London gold price breaking through the integer mark of $3,600/ounce, reaching a high of $3,622.49/ounce and a low of $3,579.4/ounce, continuing the upward momentum after the non-farm data. The core drivers xmaccount.come from the deteriorating signal of the US labor market: non-farm employment increased by only 22,000 in August, significantly lower than the market expectations of 75,000, and the unemployment rate rose to 4.3%, a new high since 2021; at the same time, the data in June was revised down to a decrease of 13,000, the first monthly decline since December 2020. This data strengthens the market's expectations of the Federal Reserve's interest rate cut. Chicago Mercantile Exchange data shows that the probability of a rate cut of at least 25 basis points in September has reached 99%. Dutch International Group and other institutions predict that interest rate cuts may be cut three times before the end of the year., it is not even ruled out the possibility of a 50 basis point cut in September.
The market focus is turning to key events this week: the United States will release an annual benchmark correction for non-farm employment data on September 9 (it is expected to be revised down by 600,000 to 900,000 jobs), and the CPI data in August will be released on September 11. These two big data will directly affect the rate cut of the Federal Reserve's interest rate resolution from September 16 to 17. The weakening of the US dollar index and the inflow of safe-haven funds further pushed the gold price up, and the cumulative increase in spot gold this year has reached 38%.
Gold technical analysis: From the weekly perspective, gold closed a big positive line last week, not only confirmed the medium-term strengthening trend, but also successfully broke through the important psychological threshold of $3,600. Gold prices continued to perform strongly this week, standing above $3,600. There may be two evolution paths in the current trend: the first is to directly accelerate the rise. If the big positive line closes this week, it is not ruled out that the market will accelerate the rise; the second is to surge and fall, closing the spindle K-line or cross star, and then attack again after a brief oscillation and rest. But no matter which way of moving, the overall bullish trend of gold remains unchanged, and every pullback may become an entry opportunity.
From the daily line, we found that the first negative line after a unilateral continuous positive appeared last Friday, but this is usually just a technical correction in a strong market. According to the rules, it is often easy to continue to close the yang on the second day. The current gold price is still above the 5-day moving average. We maintain a bullish view. Gold continues to close positive on Monday, which means it remains strong. Currently, the 5-day moving average has moved up to 3600 points, and the Monday low only hit 3578 and rebounded quickly. This strong upward attack shows that the market is full of momentum and it may be difficult to see a deep pullback in the short term.
From the 4-hour perspective, gold showed a strong pull-up pattern after a high sideways trading, with US$3,620 becoming a key short-term support level. The K-line is up steadily along the short-term moving average, and no peak signal has been seen yet. Looking at the hourly level, gold prices maintain a slow positive upward trend, with a limited pullback and a short duration. We need to be wary of a new round of pullback after consolidation at a high level. After the small cycle has been continuously fluctuated, the technical pattern has gradually adjusted to the level, and the future market growth is expected to continue. The first target above is $3,650, and after breaking through, it may challenge the high of $3,680 or $3,700 mark. 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 3665-3675 line of resistance above, and the short-term focus on the 3625-3615 line of support below.
The latest market trend analysis of crude oil:
Crude oil news analysis: On Tuesday, international oil prices continued to rebound. OPEC+'s latest decision shows that daily crude oil production will only increase by 137,000 barrels in October, far lower than the previous 555,000 barrels in August and September and 411,000 barrels in June and July. This result surprised the market and became an important factor in oil prices gaining support. The market focus is still on the geopolitical situation. As Russia launches the largest air strike in Ukraine, causing a fire in a government building in Kiev, the United States saysThe second phase of restrictions may enter, and EU sanctions officials have arrived in Washington to discuss the first transatlantic coordination action. These trends have all aggravated market concerns about the reduction of Russian oil supply and further pushed up oil price support. The oil market is currently showing a dual positive pattern of "super tightening supply + expected recovery of demand". OPEC+ slows down the pace of production increase, providing lower support for oil prices; and potential Russian supply risks increase the possibility of upside. If the Fed does start a cycle of interest rate cuts, the demand side of the oil market is expected to be further boosted. However, we need to be wary of the drastic price fluctuations caused by geopolitical escalation.
Crude oil technical analysis: From the daily chart level, crude oil has been continuously closed and stopped, forming a narrow range bottom, oil prices repeatedly cross the moving average system, and the medium-term objective trend fluctuates pattern. Oil prices fell below the lower edge of the range on Monday, and there has not yet been a continuous and powerful downward trend. It is expected that the medium-term trend of crude oil will remain weak and volatile consolidation pattern. The short-term (1H) trend of crude oil still maintains the rhythm of alternating main and secondary, and oil prices rebounded to 62.60 and were again blocked. The moving average system is repeatedly crossed, and the short-term objective trend direction fluctuates. The strength of the bulls and bears is evenly matched. According to the main and secondary rhythm alternating pattern, it is expected that there will still be a downward rhythm in the day's crude oil trend. Overall, 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 64.5-65.5 line resistance at the top, and the short-term focus should be on the 61.5-60.5 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 xmaccount.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 official website]: Analysis of the latest market trend of gold rising and falling when encountering obstacles. Today's exclusive operation suggestions for crude oil" is carefully xmaccount.compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
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