Mohicans markets：December 23 - MHM European Perspective

Market Overview

On Friday, December 23, Beijing time, during the Asian and European session, spot gold shocks slightly up and is currently trading near $ 1795.52 per ounce. After the overnight gold price plunge, the market has some oversold rebound adjustment demand. But the market wait-and-see mood is thicker, on the one hand, to wait for the U.S. November PCE data and durable goods orders data out in the evening, on the other hand, is the upcoming Christmas holiday.

Thursday's initial claims data and final value of GDP in the third quarter were better than expected, gold prices again fell below the 1800 mark; short term bearish signal again, pay attention to the 200-day SMA near 1783.53 support, short term uptrend line support is also near the location; if the loss of the support, then increase the medium-term bearish signal.

However, it should be reminded that the market is expected to show that the U.S. November PCE data is expected to slow inflation, while the monthly rate of durable goods orders is expected to decline by 0.6%, the expected bias to support gold 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 December 23, 2022, Beijing time. 

Technical Analysis

CME Group options layout changes (February Futures Price)：

1825 Bullish increased sharply, bearish increased, long target

1820 Bullish increased sharply, bearish increased, resistance

1810 Bullish increased slightly, bearish increased sharply, resistance level

1800 Bullish decreased, bearish increased sharply, the action can expand under the vigilance of breaking the position

1780 Bullish decreased slightly, bearish increased sharply, key support and short target

1770 Bullish unchanged, bearish decreased sharply, support level

Order flow key point marking (The difference between the spot price and the futures price is about $8)：

1832 Stronger resistance (can refer to hourly and 4-hourly closes to confirm breakout)

1821 High of the CPI night, key resistance for the current rally

1814 Post data short entry position, strong resistance

1802.5 Second resistance level

1795-1797 First resistance area of the day, Asian and European markets can first focus on the resistance situation there

1784.5-1785.5 First support area during the day

1778 Second support level, the bottom of the trading channel since December support

1773 Long cost area, key support level

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

CME Group options layout changes (March Futures Price)：

24.5 Bullish decreased sharply, bearish unchanged, key resistance level

24.1 Bullish increased, bearish increased slightly, long target

23.75 Bullish increased slightly, bearish decreased, support level

23.45 Bullish unchanged, bearish increased, short target

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

Order flow key point marking (Spot Price)：

24.55 Bullish option bet, resistance

24.2-24.3 Technical long target, key resistance area

23.87 Overnight U.S. market starting level, strong resistance during the day, low probability of breakout under light trading

23.67 First resistance level during the day, breakout indicates intraday trend oscillation bias to the upside

23.4 First support level during the day, the long defensive position, a break is expected to return to the shock range at the beginning of the week

22.90-23 Lower edge of the range before the BOJ, a break below undermines the rally since early December

22.57 Key defensive level for bulls in the current rally, important support

22 Break indicates risk of further retracement of uptrend from November

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

Change of CME Group option layout (futures price in February)

81-82 Bullish increased significantly, bearish decreased, long target area

80 Bullish and bearish decreased sharply, strong resistance level

79 Bullish increased, bearish increased, resistance level

77 Bullish increased significantly, bearish increased significantly, support level

76 Bullish decreased, bearish increased significantly, short target

75 Bullish decreased, bearish sharply increased, short target

Order flow key point marking (spot price):

81-81.3 Long target, resistance zone

79.6-79.9 The probability of breaking through and stabilizing was low in the case of low trading volume in the area, strong resistance during the day

78.7 The first resistance level of the day, breaking through this level indicates that the oil price was expected to rise during the day

77.6 The first support of the day, falling below the risk of oil price falling again

77 Failure to break indicated that the ability to take action was not strong

75.8-76.6 Cost area of long target, important support area

74.5 Important support

73-73.5 Key support areas

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

Change of CME Group option layout (futures price in January):

1.07 Bullish increased, bearish decreased significantly, but the stock was large, and the long target and resistance

1.0675 Bullish increased significantly, bearish decreased, rebound target

1.065 Bullish slightly increased, bearish increased, rebound target and resistance

1.06 Bullish decreased, bearish slightly increased, and drop target

1.055 Bullish increased, bearish decreased, support

1.05 Bullish increased and large stock, bearish increased and large stock, short target and support

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

CME Group data today:

1.225 Bullish increased, bearish slightly increased, long target and resistance

1.215 Bullish slightly increased, bearish slightly decreased, rebound target

1.205 Bullish unchanged, bearish increased, first resistance

1.20 Bullish unchanged, bearish slightly increased, falling target

1.195 Bullish unchanged, bearish slightly reduced, supporting

1.18 Bullish unchanged, bearish increased, short target

Note: The above strategy was updated at 15:00 on December 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.

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