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10.24 Latest market trend analysis of gold and crude oil and today’s exclusive operation suggestions
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Official Website]: 10.24 latest gold and crude oil market trend analysis and today's exclusive operation suggestions." Hope this helps you! The original content is as follows:
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Analysis of the latest gold market trend:
Analysis of gold news: In the past two days, gold has fallen by nearly 6%, falling from near the historical high ($4381.29). In previous trading days, safe-haven gold had suffered a sharp sell-off as trade tensions showed signs of easing. During the Asia-Europe session on Thursday (October 23), spot gold rose slightly, regaining its position above the $4,100 per ounce mark, with an increase of about 0.51%. The continued U.S. government shutdown and geopolitical tensions provided support for gold and silver prices. The market regards this precious metal as a safe-haven asset in times of uncertainty. In addition, market expectations for further interest rate cuts by the Federal Reserve are also supporting precious metal prices. The market will closely monitor the progress of trade negotiations, with trade representatives from both sides scheduled to meet later this weekend in preparation for the scheduled meeting between leaders next week. In addition, the US September CPI inflation data to be released this Friday has attracted much market attention. If the report shows higher-than-expected inflation data, it could boost the dollar in the short term and have a negative impact on dollar-denominated gold prices.Gold prices are under pressure.
Gold technical analysis: Gold first experienced a plunge in early trading yesterday, falling to the 4004 line and then rebounded. The pressure was measured near 4162, and then dived and fell again during the European trading session. It retreated twice to around 4010 in the evening, and recovered to above 4100 in late trading. The daily line closed with a small negative line with a long lower shadow. Judging from the rhythm of yesterday's gold trend, although the trend has twists and turns, the main structure is in line with expectations and operates in the interlayer area of the moving average. The 10-day line above plays a very good suppressive role, and the support formed by 4020 and 4000 on the 20-day line below The support band has also successfully formed a short-term bottom. This state shows that the market bulls have not xmaccount.completely retreated, but they are afraid of Tuesday's super negative line, which also increases the key guiding role of the xmaccount.competition for the 4000 integer mark below. If gold continues to fluctuate and correct today and tomorrow, but does not break 4000, then the weekly level will also hold the 5-week moving average, which means that bulls still have strong bullish confidence. If it cooperates with fundamental news to bring certain benefits, then gold may still have another upward trend in the short term. If 4,000 points fall today and tomorrow, the panic selling sentiment of market bulls may intensify, which may cause gold to expand its downside again in a short period of time, and bulls sell to escape the risk of a stampede decline.
At present, the 5-week weekly level is still around 4000, but the 20-day line has risen to around 4035. Therefore, today the bottom will first focus on the vicinity of 4035, focusing on the 4000 integer mark. At the top of the day, focus on the 5- and 10-day lines. Currently, the 5- and 10-day lines intersect around 4170-80. From the hourly chart, there will also be a certain suppressive effect near 4140 above the short-term, so the general operating space for today is also out, that is, the 4000-4180 large range shocks, and the small range 4035-4140. In terms of operation, it is recommended to focus on low and long in the range, supplemented by high altitude. On the whole, today's short-term operation of gold, He Bosheng recommends to focus on the low and long prices, supplemented by the rebound from high altitudes. The top short-term focus will be on the 4160-4180 first-line resistance, and the bottom short-term focus will be on the 4110-4090 first-line support.
Analysis of the latest crude oil market trends:
Crude oil news analysis: After the United States announced sanctions on Russia’s two largest oil producers, international oil prices rebounded strongly. Brent crude oil once jumped 2.9%, returning to above $64 per barrel, and WTI simultaneously rose close to the integer mark of $60. The market has significantly increased pricing for short-term supply tightening. According to the United States, the sanctions targets include Russian state-owned energy giants Rosneft and Lukoil, whose xmaccount.combined exports account for nearly half of Russia’s overseas crude oil supply. This means that once the enforcement of sanctions is expanded, the global crude oil supply chain may face structural disruptions, especially in the European and Asian markets. U.S. President Trump also put pressure on Asian countries and India to reduce Russian oil purchases to further weaken Mozambique.Sources of oil revenue for Scotia.
Crude oil technical analysis: From the daily chart level of crude oil, oil prices have fallen below the lower edge of the range, and the objective trend is downward in the medium term. Oil prices fell sharply in a single day, and the subjective and objective trend directions have been downward. The MACD indicator fast and slow line opens downward below the zero axis, indicating that short kinetic energy has the upper hand. The medium-term trend of crude oil is expected to be volatile and downward. The short-term (1H) trend of crude oil crosses the moving average system up and down, with a zone-level shock rhythm, and the range amplitude is between 58.00-61.60. Oil prices plummeted before and after a dip, but were quickly restrained. The long and short kinetic energy were in a stalemate with each other, regardless of whether they were up or down. It is expected that the trend of crude oil during the day will mainly fluctuate within the range and consolidate. On the whole, today's crude oil operation thinking is based on He Bosheng's suggestion to rebound low and long, supplemented by rebounding high. The top short-term focus is on the 62.5-63.5 first-line resistance, and the bottom short-term focus is on the 59.5-58.5 first-line support.
This article is exclusively planned by He Bosheng, a gold and crude oil analyst. Due to the delay of network push, the above content is personal advice. Due to the timeliness of online publishing, the suggestions in this article are for learning reference only. You should operate at your own risk. Regardless of whether the views and strategies of the article agree with others, you can xmaccount.come to me to discuss and learn together! Nothing is difficult in the world, as long as there are people who are willing. Investment itself carries risks. I remind everyone to look for authoritative platforms and powerful teachers. Fund safety xmaccount.comes first, secondly consider operational risks, and finally how to make profits.
The above content is all about "[XM Foreign Exchange Official Website]: 10.24 Latest Market Trend Analysis of Gold and Crude Oil and Today's Exclusive Operation Suggestions". It is carefully xmaccount.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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