On Monday (June 14), the US dollar index changed little, and investors turned to the Fed’s policy decision to be announced on Wednesday, which may reveal clues as to when the Fed will reduce its asset purchases. The price of gold fell on Monday. Spot gold fell as much as 1.7% at one point, setting a four-week low to $1,84.95 per ounce. Some investors worried that the Fed might outline the path to shrinking its expansionary monetary policy at its two-day meeting this week; However, in late trading, the price of gold rebounded by more than US$20 from the day’s low and rebounded to around US$1866. Some analysts predict that if Fed Chairman Powell maintains the view that inflation is only “temporary” and does not withdraw monetary stimulus, gold prices should be able to regain lost ground. Phillip Streble, chief market strategist at Blue Line Futures, said investors may have taken some gold positions before the Fed’s policy meeting that began on Tuesday. The Fed may hint that they will begin to shrink, which should put pressure on gold. He added that the Fed is already “withdrawing” liquidity from the system, which should also put pressure on gold. He was referring to the surge in the size of the Fed’s reverse repurchase operations last week. Friends who are interested in gold and crude oil investment but have no way of starting or are already in contact but are not ideal, pay attention to Artemisia mongolica to “adopt the situation” to obtain the latest financial information, daily market trend analysis, real-time trading strategy and medium and long-term layout.
Spot Gold·London Gold Market Analysis
From the perspective of the weekly line, the weekly line closes the small Yin line and is currently operating near and above the short-term line. The 5-week and 10-week moving averages are still moving upwards. The medium-term line is chaotic and directionless. MACD is moving upwards, KDJ is glued, and the indicators have no obvious direction. . The weekly rebounded from around 1676 to the highest around 1917, breaking through the downward trend line pressure. The weekly closed the two-week small Yinxian, but the resistance was not obvious. It is still possible to continue to fluctuate above the 10-week moving average and pull up to a new high. In the future To turn short in the mid-term, you need to break below the stable 10-week moving average, and the short-term line is glued, so that it can really turn to the short, otherwise it will oscillate in the high range, and may even pull up to a new high. From the perspective of the daily line, the gold daily line closes the Yin line and is currently running above the lower rail. The 5-day and 10-day moving averages are running downwards, the mid-term line is running upwards, MACD is running downwards, and KDJ is running downwards. The indicators are bearish. Gold dived again on Monday, falling from above 1877.89 to near 1844.2, closing at US$1865.8 per ounce. Obviously closed, the daily line looks like short-term shocks and bearishness, but if it fails to break through the 1855-1917 range, it will not go out of the general direction. In the end, it will fall below the 1855 line and close the line to confirm whether it is really empty in the future. It is necessary to break the daily high of this year to further open up the upper space. In summary, today’s short-term operation Jiang Xian suggested rebounding from the high altitude as the main, and the callback is supplemented by the low and more callbacks. The top pays attention to the first-line resistance of 1883-1888, the bottom pays attention to the first-line support of 1855-1850, and then the 1840 support level.
Crude oil information:
Oil prices rose slightly in the late trading session, hitting a high in more than two years earlier in the session. The increase in US crude oil production and the delay in restarting in the UK reduced expectations for fuel demand growth and tight supply. According to a forecast by the U.S. Energy Information Administration (EIA), shale oil production, which accounts for more than two-thirds of total U.S. production, is expected to increase by approximately 38,000 barrels per day to approximately 7.8 million barrels per day in July. The market reacted negatively to this. Phil Flynn, a senior analyst at Price Futures Group, said that the opening performance was strong. Given the high vaccination rate, the demand situation is expected to accumulate momentum. Subsequently, the EIA report caused the momentum to fade. Brent crude oil futures touched US$73.64 per barrel earlier, the highest since April 2019; US crude oil futures touched US$71.78 per barrel earlier, the highest since October 2018. The International Energy Agency (IEA) said on Friday that global demand is expected to return to pre-pandemic levels by the end of 2022, faster than previously expected. The IEA urges the OPEC+ alliance formed by the Organization of Petroleum Exporting Countries (OPEC) and its allies to increase production to meet demand. Motor vehicle traffic in most parts of North America and Europe is returning to pre-pandemic levels, and as blockades and other restrictions are relaxed, the number of flights on board has also increased. However, later on Monday, the UK postponed plans to cancel most of the remaining restrictions for one month, due to the rapid spread of the more contagious Delta variant virus.
Futures crude oil · U.S. crude oil market analysis
From the weekly perspective, oil prices closed for 3 consecutive weeks. The K-line is in a long position. Oil prices will continue to rise. According to the current turbulent trend, oil prices will not accelerate and it will be difficult to pull back. Therefore, we will continue to move upwards this week. Still relying on MA5 to show a bullish upward trend, below can focus on the 69.3 support. US crude oil opened at the 70.728 line on Monday. After the opening, the oil price saw a shock increase, and the highest was given to the 71.664 line. The daily line included a big Yang line, the high price broke the previous high, the low price did not Breaking the previous low, there was a bullish trend. The moving average system was arranged by bulls, running below the oil price to form a support. The oil price broke the previous resistance at 66.8 and continued to rise. The overall performance is in a bullish trend. From the 4-hour level, the Bollinger Bands are opening upwards, oil prices are running on the upper middle track, and the long moving averages are arranged, running below the oil price to form support. The lower support focuses on the opening level of this week, and then the moving average horizontal support. To sum up, Jiang Xian recommends that the operation is mainly low and low, and rebound is supplemented by high altitude. At the top, focus on the 72.0-72.5 first-line resistance, and the bottom support will focus on the 69.3-68.8 first-line support.
This article is contributed by Jiang Xian. I interpret world economic news, analyze global investment trends, and have in-depth research on crude oil, gold, silver, and other commodities. Due to the delay of online push, the above content is personal advice, and online postings are time-limited. Sexual, for reference only, at your own risk, please indicate the source for reprinting.
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