Mohicans markets：11.30-MHM European Perspective

Market Inventory

On Wednesday (November 30), Beijing time, during the Asian European session, spot gold rose slightly in shock. At present, the trading volume is around 1754.92 US dollars/ounce. China's PMI data in November was weaker than the market expectation and the previous value, which provided some hedge support for gold prices. The fall of the US dollar index also provided a rebound opportunity for gold prices. However, this trading day will usher in the US November ADP employment data and the speech of Fed Chairman Powell, and bulls still have concerns. The market expects that the US employment data in November will be slightly weaker than that in October, providing support for gold prices, but the speech of Fed Chairman Powell will be the focus of the market.

In general, Fed officials will make the groundwork for the December rate meeting, and several Fed officials have recently spoken in a hawkish direction, stressing that the Fed has more work to do in reducing inflation, and that the Fed is not yet close to the stage of suspending interest rate hikes. The market is expected to Powell will also continue the officials released the above hawkish stance, which may depress gold prices.

In addition, this trading day will also usher in a series of economic data. In the European session, German employment data in November and euro area CPI data in November will be released. In the New York session, the U.S. ADP employment number in November (commonly known as “small non farm”), the revised U.S. GDP in the third quarter, and the U.S. JOLTs job vacancy data in October will be released for investors to pay attention.

During the Asian session, U.S. crude oil is in a narrow range, currently trading near $78.70/barrel. API crude inventories fell sharply, recording the largest weekly decline since July 2021, and the dollar index weakened, providing support to oil prices, but gasoline inventories increased sharply and China's PMI data for November performed worse than expected and previous values, recording the worst performance in nearly seven months, causing investors to worry about the demand outlook.

In addition, the market is also worried that OPEC+ will keep its production policy unchanged at the meeting to be held at the weekend, also hitting the morale of the bulls.

Investors need to pay attention to the performance of the EIA crude oil inventory series and the performance of the US ADP and a series of other economic data, pay attention to news related to the geopolitical situation and, of course, the impact of Fed Chairman Powell's speech on global stock markets and the expected changes in the economic outlook.

Mohicans Markets strategies are for information purposes only and are not intended as investment advice, please read the disclaimer at the end of the article. The following strategies were updated at 15:00 GMT on November 30, 2022.

Technical Analysis

CME Group options layout changes (February futures prices).

1790-1805 Bullish increased significantly, bearish remained unchanged, long target

1785 Bullish decreased, bearish increased, resistance level

1750-1755 Bullish decreased, bearish increased significantly, short target

1735 Bullish remained unchanged, bearish position decreased significantly, the support level

Order flow key point marking (spot price):

 1763 Limit resistance of the day

1757 European and American markets stepped back on resistance several times yesterday

1747 US Pinbar low support yesterday

1740  Key position of short-term fluctuation in days

1730-1736 Lower support area, W bottom neck line support, key

Note: The above strategy was updated at 15:00 on November 30. This policy is a daytime policy. Please pay attention to the policy release time.

Change in the option layout of CME Group

22 Bullish slightly decreased, bearish slightly increased, long target

21.5 Bullish increased, bearish unchanged, long target

21.1-21.2 Bullish unchanged, bearish reduced, support level

Order flow key point marking (spot price):

21.8 Key resistance

21.6-21.66 Intraday resistance

21.15 Lower limit support and long and short boundary of consolidation section

20.9 Point where chips were relatively concentrated yesterday, support position

Note: The above strategy was updated at 15:00 on November 30. This policy is a daytime policy. Please pay attention to the policy release time.

CME Group options layout changes (January Futures Price)：

85 Bullish increased sharply and stock was large, bearish decreased slightly, long target and resistance

84 Bullish increased sharply, bearish unchanged, long target and resistance

80 Bullish increased sharply, bearish decreased, long target and key resistance

77 Bullish decreased slightly, bearish increased sharply, short-term short target

75 Bullish decreased, bearish increased sharply and the stock was large, short target and long-short boundary

70 Bullish unchanged, bearish increased sharply and the stock was large, short target

Order flow key point marking (January Futures Price)：

84.5 Midline resistance

82-82.5 Second resistance

79.5-80 Key resistance, lower trend line since Nov. 7 / upper 1-hour Bollinger band +200 Hourly averages, only after the station is expected to resume the upper action

79 U.S. market starting point, Asian and European resistance

78-78.6 Minor level support in Asia and Europe

77-77.3 Support during the day

75 Long-short boundary

73-74 Short target and key support, last November double bottom neckline

70 Short target, US supplementary war storage point

Note: The above strategy was updated at 15:00 on November 30. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group data:

1.05 Bullish decreased but the sock was large, bearish slightly decreased but the stock was large, long target and resistance

1.045 Bullish slightly decreased but the stock was large, bearish increased,rebound target and resistance

1.04 Bullish slightly decreased, bearish slightly increased and the stock was large, next resistance

1.035 Bullish slightly increased, bearish increased, resistance

1.03 Bullish decreased but the stock was large, bearish slightly increased, support weakened

1.025 Bullish unchanged, bearish slightly increased, short target

1.02 Bullish unchanged, bearish decreased but the stock was large, short target and support

Note: The above strategy was updated at 15:00 on November 30. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group data:

1.21 Bullish slightly increased and the stock was large, bearish unchanged long target

1.205 Bullish slightly increased and the stock was large, bearish slightly increased, rebound target and resistance

1.20 Bullish unchanged, bear slightly increased, first resistance

1.195 Bullish unchanged but the stock was large, bearish unchanged, support

1.19 Bullish unchanged, bearish slightly decreased, next support

1.185 Bullish unchanged, bearish slightly increased, short target

1.18 Bullish unchanged but the stock was large, bearish slightly decreased, short target and support

Note: The above strategy was updated at 15:00 on November 30. 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 consultation only. It does not take into account your investment objectives, 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 warranty or representation on this material. The examples in this material are for illustrative purposes only. To the extent permitted by law, MHMarkets and its employees shall not be liable for any loss or damage arising from any information provided or omitted in this material in any way (including negligence). The characteristics of MHMarkets' products, including applicable fees and charges, are outlined in the product disclosure statement provided on MHMarkets' website. Derivatives may be risky; The loss may exceed your initial payment. MHMarkets recommends that you seek independent advice.

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