Abstract:During the Asian European session on Thursday (December 15), Beijing time, spot gold was volatile and weak, hitting a two-day low of 1789.47 US dollars/ounce. The Federal Reserve raised interest rates and hinted that there would be multiple interest rate hikes next year. The speech of Federal Reserve Chairman Powell also tended to be hawkish, which significantly suppressed the gold price.
Market Overview
During the Asian European session on Thursday (December 15), Beijing time, spot gold was volatile and weak, hitting a two-day low of 1789.47 US dollars/ounce. The Federal Reserve raised interest rates and hinted that there would be multiple interest rate hikes next year. The speech of Federal Reserve Chairman Powell also tended to be hawkish, which significantly suppressed the gold price. After another surge and fall, investors need to be wary of the short-term peak risk of the gold price. However, at present, the resilience of the dollar index is weak, and the overall situation is still weak. Bulls still have some opportunities.
This trading day will also usher in the Bank of England interest rate resolution and the European Central Bank interest rate resolution. The market is expected to raise interest rates by 50 basis points, which will increase the opportunity cost of holding gold, which is unfavorable to the gold price. However, this factor may also have a negative impact on the US dollar, so the overall bearish impact may be limited.
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 15, 2022 Beijing time.
Technical Analysis
Change of CME Group option layout (futures price in February):
1875 Bullish sharply reduced, bearish unchanged, resistance level
1850 Bullish increased significantly, bearish unchanged, long target
1835 Bullish sharply reduced, bearish unchanged, positive force level
1800 Bullish decreased, bearish increased significantly, and breakout will expand downward momentum
1775 Bullish sharply reduced, bearish sharply increased, short target
1750 Bullish slightly reduced, bearish significantly increased, short target
Order flow key point marking (spot price):
1845 Bulls secondary target is also resistance
1833 The first target of bulls
1825 Key resistance
1813 The rear high of the Federal Reserve, an important resistance
1795 Low point after meeting, important support
1790 CPl data rising point, secondary support
1781 Key support
Note: The above strategy was updated at 15:00 on December 15. This policy is a daytime policy. Please pay attention to the policy release time.
Change of CME Group option layout (futures price in March)
24.75 Bullish decreased, bearish unchanged, resistance level
24.25 Bullish decreased, bearish slightly increased, resistance level
24.1 Bullish increased, bearish increased significantly, and long short competing for point
24 Bullish decreased, bearish slightly increased, the second resistance level
23.5 Bullish decreased, bearish increased, short-term resistance level
23 Bullish decreased, bearish increased, short target
Order flow key point marking (spot price):
24.85-25 Bullish target
24.45-24.57 Secondary resistance
24-24.17 Double top neck line position in March, strong resistance area
23.55-23.6 First support
23.38 The starting point CPI and supporting level of interest rate resolution, key
23-23.1 Important support recently
22.57 Hour-level double bottom neck support
Note: The above strategy was updated at 15:00 on December 15. This policy is a daytime policy. Please pay attention to the policy release time.
CME Group options layout changes (January Futures Price):
80 Bullish increased sharply, bearish decreased, long target
79.5 Bullish decreased sharply, bearish decreased slightly, resistance
77.5 Bullish increased sharply, bearish increased sharply, key level
76-76.5 Bullish decreased sharply, bearish increased sharply, short target area
75 Bullish decreased sharply, bearish increased sharply, short target
74-74.5 Bullish decreased sharply, bearish decreased sharply, support zone
Order flow key point marking (Spot Price):
81.3 Start of previous round of declines, key resistance
79-80 Rebound target area for call option bets, also resistance
77.8-78 Key resistance area during the day
76.4 First support level during the day
75-75.4 Long-short boundary, key support area
73.8-74 Support zone
72.8 Key support for the rally
Note: The above strategy was updated at 15:00 on December 15. This policy is a daytime policy. Please pay attention to the policy release time.
Todays CME Group data:
1.255 Bullish unchanged but the stock was large, bearish unchanged, long target
1.245 Bullish unchanged but the stock was large, bearish decreased slightly, rebound target and resistance
1.24 Bullish decreased slightly, bearish increased slightly, first resistance
1.235 Bullish unchanged, bearish increased sharply, fallback target and support
1.23 Bullish decreased, bearish increased sharply, short target
1.225 Bullish unchanged, bearish decreased slightly, short target and support
Note: The above strategy was updated at 15:00 on December 15. This policy is a daytime policy. Please pay attention to the policy release time.
Todays CME Group data:
1.245 Bullish increased sharply, bearish unchanged, long target
1.235 Bullish increased sharply, bearish unchanged, rebound target
1.225 Bullish unchanged, bearish unchanged, resistance
1.22 Bullish increased slightly, bearish increased sharply, fallback target and support
1.215 Bullish unchanged, bearish increased sharply, fallback target
1.205 Bullish unchanged, bearish increased, short target
Note: The above strategy was updated at 15:00 on December 15. 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.
MohicansMarkets, (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