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12.1 Gold bulls’ latest market trend analysis, crude oil’s exclusive operating advice and guidance today
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Official Website]: 12.1 gold bulls' latest market trend analysis, crude oil today's exclusive operation suggestions and guidance." Hope this helps you! The original content is as follows:
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Analysis of gold’s latest market trend:
Analysis of gold news: In early trading in the Asian market on Monday (December 1, Beijing time), spot gold was trading around US$4,220 per ounce. The price of gold, driven by the continued rise in expectations for an interest rate cut by the Federal Reserve, the precious metals market continued to rise. November ushered in an overall rise. Spot gold hit a two-week high of US$4,226.56 per ounce last Friday, and silver set a new historical record, demonstrating the strong momentum of the precious metals market. Driven by the continued rise in expectations for interest rate cuts by the Federal Reserve, the global precious metals market ushered in an overall rise in November. Spot gold prices hit a two-week high last Friday, and silver set a new historical record, demonstrating the strong momentum of the precious metals market. Spot gold rose 1.6% on Friday, hitting its highest level since November 13 to 4226.56USD/oz. Gold prices rose by 3.9% last week, and rose by 5.5% in November, marking the fourth consecutive month of gains.
Gold technical analysis: I didn’t expect the market to be so big on Thanksgiving last Friday. After the opening of the morning market, it directly broke through the high point and reached the 4193 line. After the European market fell back, the US market rebounded strongly. Due to the early closure of the US market, the market did rise and break through, reaching the highest level of 4226. It has broken through the high pressure on November 14, so the next step is to look at the resistance area of 4245-4250. If it breaks, look for wave B and C, if it doesn’t break, look for wave C to fall. The price of gold bottomed out last week and has now turned positive. The short-term 10 moving average has provided buying support for it. However, the pressure from the upper trend line is still limiting its momentum. It still needs to break through here to go higher. If it breaks through, it will further reach the historical high of $4,381. Below, continue to focus on the 10 moving average near $4,040. If it falls below, it will further reach around $4,000. Daily level: The price of gold once again stabilized above the 20-day moving average last week and fluctuated upwards, but the trend line is still generating some pressure. The KDJ indicator in the attached picture has weakened momentum, and the MACD kinetic energy column is expected to continue to shrink. Therefore, the risk of falling back again after going higher is not ruled out, but the Bollinger Bands are positive In the process of shrinking and horizontal development, the price of gold is running above the middle rail again, which implies that the larger direction will be upwards, but short-term pressure cannot be ruled out. Before breaking through the 5-day moving average and stabilizing, the market is expected to maintain a horizontal consolidation above the middle rail, and then continue to rise and rebound again.
In the short term, the price of gold finally broke through the resistance of 4210, and then the price fell back in the short term. At present, the small-level market has formed a strong pattern, and the market will test towards 4250. The next operation will mainly focus on callbacks and long positions. From a 4-hour perspective, the main price support is at 4200. If the market maintains a strong upward trend, it will never pull back too deeply, so we need to pay attention to the rhythm of the short-term bull trend. Looking at the hourly line, the price rose from 4155, and after a callback from 4170-4180, rose to 4226. Its bullish trend support is at 4155. As long as the market does not break 4155, it will continue to be bullish and move towards the 4240-4250 area. On the whole, today's short-term operation of gold, He Bosheng suggests to focus on callbacks and longs, supplemented by rebounds from high altitudes. The upper short-term focus will be on the first-line resistance of 4250-4270, and the lower short-term will focus on the first-line support of 4200-4180.
Analysis of the latest crude oil market trend:
Analysis of crude oil news: In early trading in Asia on Monday (December 1, Beijing time), U.S. crude oil was trading around US$59.55/barrel, up 1.64%. A Russia-Ukraine peace agreement is "very likely" to be reached to limit oil price increases. However, the Iranian Revolutionary Guard seized a smuggled fuel tanker in the Persian Gulf, which boosted the morning oil price trend. The international crude oil market closed slightly lower on the last trading day of November, with the two major benchmark oil prices setting their longest monthly losing streak since 2023. Markets are reassessing geopoliticsrisk premium and set its sights on the OPEC+ meeting. On Friday, Brent crude oil January futures fell 0.22% to US$63.20 per barrel; the more active February contract fell to US$62.38. U.S. crude oil futures edged down 0.17% to settle at $58.55 a barrel. Although both major contracts rose about 1% last week, they ended lower for the fourth consecutive month, showing continued pressure on the market. Oil prices are under pressure mainly from the following aspects, and supply pressure continues: Data from the U.S. Energy Information Administration on Friday showed that U.S. crude oil production increased by 44,000 barrels per day in September, reaching a record of 13.84 million barrels per day, deepening market concerns about oil glut. Progress in peace talks between Ukraine and Russia continues to affect markets. Signs that a peace deal could be reached pushed oil prices sharply lower early last week, but they have recovered over the past three sessions as negotiations dragged on.
Crude oil technical analysis: From the daily chart level, and from the local level, the current oscillation rhythm of crude oil is a minor one, with the K line closing 3 negative lines in a row and testing towards the early low of 56. The MACD indicator formed a dead cross near the zero axis, and the short momentum showed signs of gradually increasing. If the 56 strong support level is broken, the crude oil trend will enter a downward rhythm in the mid-term. The short-term (1H) trend of crude oil has broken through the upper edge of the range. Whether an effective breakthrough has been formed needs further verification. The moving average system is arranged in a long position, relying on oil prices, the short-term objective trend has turned upward. The MACD indicator opens gently upward above the zero axis, and the bullish momentum has a certain advantage. It is expected that the trend of crude oil during the day will still maintain a weak and volatile upward rhythm. 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 60.5-61.5 first-line resistance, and the bottom short-term focus is on the 58.2-57.2 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]: 12.1 Gold Bulls’ Latest Market Trend Analysis, Crude Oil Today’s Exclusive Operation Suggestions and Guidance". 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!
Due to the author's limited ability and time constraints, some contents in the article still need to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues:
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