Mohicans markets：November 23-European Perspective

Market Overview

On Wednesday, November 23, Beijing time, during the Asian and European trading sessions, spot gold shocked slightly down, and hit a low of $1733.05 per ounce, which closed to the low of nearly two weeks. Although the dollar is still slightly weaker, more due to the improvement in risk appetite, failed to provide gold prices with upward momentum; instead, the market is concerned about the Fed minutes, as the last Fed interest rate resolution mentioned slowing the pace of interest rate hikes, the wording is dovish; from experience, the minutes are more likely to be hawkish, and the Fed also carried out the fourth 75 basis point rate hike at that time, and gold prices are under pressure in the short term.

This trading day also needs to pay attention to the PMI data for November from Europe and the United States, the U.S. preliminary monthly rate of durable goods orders for October and the change in initial jobless claims. Market expectations for the Eurozone PMI data are poor, biased in favor of the dollar and negative for gold prices.

U.S. crude oil is in a narrow range, and is currently trading near $81.04 per barrel. Epidemic concerns are still weighing on oil prices, but a sharp drop in API crude inventories, suggesting a tight market supply, is giving support to oil prices; and with OPEC+, reinforced by the UAE, Kuwait, Iraq and Algeria on Tuesday, having no intention to consider raising oil production, long opportunities have increased. In addition, the European Union on Tuesday postponed full implementation of its plan to set price caps on Russian oil exports and softened key transport provisions, watering down its latest sanctions proposal.

This trading day also needs to pay attention to the EIA crude oil inventory series, November PMI data from Europe and the US, and the Fed meeting minutes. The inventory data is wrong to provide support to oil prices, but PMI data and the meeting minutes may depress oil prices.

Mohicans Markets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 23, 2022 Beijing time.

Technical Analysis

Order flow key point marking (Spot Price)：

Spot gold is down 0.03% before the European session on Wednesday.

Spot price above the focus on resistance at 1739, 1743.5, 1749.5; the long side has the advantage in the range of 1740-1745-1750

Spot price below the attention of support at 173, 1730, 1726; short side has the advantage in 1732 and below 1732.

Note: The above strategy was updated at 15:00 on November 23. This policy is a daytime policy. Please pay attention to the policy release time.

Order flow key point marking (Spot Price)：

Spot silver is up 0.17% before the European session on Wednesday.

spot price above concern resistance at 21.41, 21.5, 21.6; the long side has the advantage in21.4.

Spot price below the attention of support at 20.84, 20.78, 20.7; short side has the advantage in 20.89.

Note: The above strategy was updated at 15:00 on November 23. This policy is a daytime policy. Please pay attention to the policy release time.

Order flow key point marking (January Futures Price)：

Spot U.S. crude oil is down 0.02% before the European session on Wednesday.

Spot prices above concern resistance at 82, 82.3, 84.

Spot price below the attention of support at 81, 80.8, 80.15; short side has the advantage in 80.25.

Note: The above strategy was updated at 15:00 on November 23. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group data:

Before the European market on Wednesday, the euro rose 0.34% against the dollar,

Pay attention to the resistance of 1.0365 and 1.048 above the current price, and the resistance around 1.0345 and 1.0395 is dominant;

Pay attention to 1.0265, 1.0245 and 1.0205 support currently, and 1.0295 empty orders will prevail.

Note: The above strategy was updated at 15:00 on November 23. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group data:

Before the European market on Wednesday, the pound rose 0.11% against the dollar,

Pay attention to the resistance of 1.1935, 1.198 and 1.2 above the current price, and 1.1895 and 1.191 are superior;

Pay attention to the support of 1.185, 1.1825 and 1.1795, and 1.1865 empty orders are preferred.

Note: The above strategy was updated at 15:00 on November 23. This policy is a daytime policy. Please pay attention to the policy release time.

Statement|Disclaimer

Disclaimer: The information contained in this material is for general advice only. It does not take into account your investment goals, financial situation or special needs. We have made every effort to ensure the accuracy of the information as of the date of publication. MHMarkets makes no warranties or representations about this material. The examples in this material are for illustration only. To the extent permitted by law, MHMarkets and its employees shall not be liable for any loss or damage arising in any way, including negligence, from any information provided or omitted from this material. The features of MHMarkets products, including applicable fees and charges, are outlined in the product disclosure statements available on the MHMarkets website. Derivatives can be risky and losses can exceed your initial payment. MHMarkets recommends that you seek independent advice.

Mohicans Markets, (Abbreviation: MHMarkets or MHM, Chinese name: Maihui), Australian Financial Services License No. 001296777.