Abstract:On Monday, October 11, spot gold oscillated slightly lower during the Asian session and is currently trading near $1,664.4 per ounce. After Monday’s market closure, U.S. bond yields extended their gains on Tuesday and the U.S. dollar index is approaching more than 20-year highs, putting pressure on gold prices.
Warm Prompt: The opinions and strategies provided in this article are for reference only. The data are all from large brokers. Please check them according to your needs and do not serve as any investment advice. Please read the statement terms at the end of the article carefully.
Market Review
On Monday, October 11, spot gold oscillated slightly lower during the Asian session and is currently trading near $1,664.4 per ounce. After Mondays market closure, U.S. bond yields extended their gains on Tuesday and the U.S. dollar index is approaching more than 20-year highs, putting pressure on gold prices.
S. crude oil is narrowly oscillating and currently trading near $91.00 per barrel; the positive impact of previous production cuts has faded as a stronger dollar and the intensification of the new Asian crown epidemic have increased concerns about a slowdown in global demand, and the market expects the actual OPEC+ production cut rate to be only 10%. However, with air defense sirens sounding across Ukraine, it remains to be seen how the tense geopolitical situation gives support to oil prices.
In addition, the Fed officials hawkish speech and strong non-farm data has been initially digested by the market, Russia and Ukraine geopolitical situation is still tense, the fear of global recession also to gold prices to provide safe-haven support; 1660 mark near the support is strong, in the loss of the position before, gold long still have a chance. This trading day economic data less, investors need to pay attention to the Federal Reserve, the European Central Bank and the Bank of England officials' speeches; On Monday, the British Chancellor of the Exchequer Quatten announced an early budget announcement, British bond yields rose sharply, also once put gold prices under pressure; In addition, investors also need to pay attention to Russia and Ukraine geopolitical situation related news.
Mohicans Markets strategy is for reference only and not as investment advice. Please read the terms of the statement at the end of the article carefully. The following strategy was updated at 15:30 on October 11, 2022, Beijing time.
Technical Analysis
CME Group options layout changes(December Futures price):
1705-1710 Bullish increase sharply, bearish decrease slightly, rally target
1685 Bullish decrease, bearish increase slightly, resistance level
1675-1680 Bullish increase sharply, bearish decrease sharply, the key boundary between long and short
1650 Bullish decrease slightly, bearish decrease, support
1645 Bullish decrease, bearish increase, short target
1630-1625 Bullish increase, bearish decrease, support area
1615-1620 Bullish increase, bearish increase, short target
Order flow key point labeling(spot price):
1707 Resistance level
1689-1694 Top-bottom conversion range, rebound key resistance area
1675-1678 U.S. market back to the starting point, the first resistance level of the day
1660 Near last Mondays opening price, 618 retracement level, current key support
1642-1644 End of September back to the upside, the support area
1625 Daily Bollinger band lower rail, the key position, during the 1633 or a certain buffer role
Note: The above strategy was updated at 15:00 on October 11. This strategy is a day strategy, please pay attention to the release time of the strategy.
CME Group options layout changes:
20.25 Bullish decrease slightly, bearish increase, resistance
20 Bullish increase, bearish increase, long target, resistance
19.85 Bullish increase, bearish increase, resistance
19.50 Bullish increase, bearish decrease slightly, equal stocks, key level
19.20 Bullish increase, bearish increase slightly, support
19 Bullish increase slightly, bearish decrease, support
Order flow key point labeling(spot price):
20.5 Second highest rally point of Non-farm post, strong resistance
19.95 Short-term key support lost, turned into important resistance
19.75 First resistance in a day, long-short boundary
19.46 Trend support, loss of bullish sentiment destroyed
19-19.25 Rise zone on Monday, this round of rallies in the long cost area
Note: The above strategy was updated at 15:00 on October 11. This strategy is a day strategy, please pay attention to the release time of the strategy.
Order flow key point labeling(November Futures price):
95 Bullish decrease sharply but the stock is large, bearish increase, key resistance
93 Bullish decrease, bearish increase, resistance
92 Bullish decrease slightly, bearish increase sharply and the stock is large, resistance
90 Bullish increase sharply and the stock is large, bearish decrease, key support
88 Bullish decrease, bearish increase sharply, short target
85 Bullish increase sharply and the stock is large, bearish decrease, short target
Order flow key point labeling:
98 Previous high resistance
95 Long target, key resistance
93.5 Double top resistance, strong resistance
92.6 Resistance level, watch for downside retracement below this level to go hot
91.6 First resistance, top-bottom conversion level, long-short boundary in a day
89.3 Key support for rising of oil price
88 Important support
86 Important support
Note: The above strategy was updated at 15:00 on October 11. This strategy is a day strategy, please pay attention to the release time of the strategy.
Change of CME Group's option layout:
0.98 Bullish slightly increased, bearish increased and the stock was large, the next resistance level
0.975 Bullish slightly increased, bearish increased and stocks were large, resistance level
0.97 Bullish slightly increased, bearish sharply reduced, but the stock was large, and the resistance was weakened
0.965 Bullish slightly increased, bearish unchanged, support level
0.96 Bullish increased, bearish increased significantly, short target and support
0.955 Bullish growth, bearish increased and large stock, next short target
Note: The above strategy was updated at 15:00 on October 11. This policy is a daytime policy. Please pay attention to the policy release time.
Change of CME Group's option layout:
1.125 Bullish increased, bearish slightly increased, long target
1.12 Bullish slightly increased, bearish slightly increased, rebound target
1.11 Bullish unchanged, bearish slightly increased, the first resistance
1.10 Bullish unchanged, bearish reduced, the first support
1.095 Bullish remains unchanged, bearish slightly increased and stocks was large, short target
1.09 Bullish unchanged, bearish slightly reduced, and the next support
1.08 Bullish unchanged, bearish increased, next short target
Note: The above strategy was updated at 15:00 on October 11. This policy is a daytime policy. Please pay attention to the policy release time.
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.
Spot gold weakened slightly during the Asian session on Thursday (April 6), hitting a two-day low of $2007.89 per ounce and now trading near $2014.15. A series of weak economic data has fueled fears of an impending recession in the US, giving safe-haven support to the dollar. And some dollar shorts took profits, and gold bulls also took profits ahead of Good Friday and the non-farm payrolls data, putting pressure on gold prices.
On Wednesday, as the less-than-expected March "ADP" data and non-manufacturing PMI data fueled market concerns about an economic slowdown and spurred bets that the Federal Reserve could slow interest rate hikes. Spot gold continued to brush a new high since March last year, which was the highest intraday to $2032.13 per ounce, and then retracted most of the day's gains, finally closing up 0.01% at $2020.82 per ounce; spot silver hovered around $25 during the day, finally closing down 0.21% at $2
Spot gold oscillated slightly lower during the Asian session on Tuesday (April 4) and is currently trading around $1980.13 per ounce. The dollar index rebounded mildly after a big drop overnight, putting pressure on gold prices. However, this week will see the non-farm payrolls report, there is no important economic data out on Tuesday, and the market wait-and-see sentiment is getting stronger.
On Monday, in OPEC + members unexpectedly cut production reignited market concerns about long-term inflation and sparked uncertainty about the Fed's response, the dollar index once up to the 103 mark, and then on a "vertical roller coaster", giving back all the gains of the day and once lost 102 mark, finally closed down 0.53% at 102.04; U.S. 10-year Treasury yields rose and then fell, as data showed that the U.S. economy continues to slow, it fell sharply in the U.S. session, and once to a low