Mohicans markets：November 25-European Perspective

Market Overview

On Friday, November 25, Beijing time, during the Asian and European trading session, spot gold shocks up, once refreshing this week's high to $ 1761.06 per ounce, now slightly back near to $ 1756.60 per ounce. 

On the one hand, the dovish Fed meeting minutes to keep pressure on the dollar, approaching nearly three-month lows, U.S. bond yields fell to a new low of nearly one and a half months, to gold prices to provide upward momentum; on the other hand, the geopolitical situation is relatively tense, the global recession fears linger, also to provide support for gold prices. Gold prices bias to the long side in the short term, which is expected to shake up the recent highs near 1786 resistance; however, this trading day is the day after Thanksgiving, the U.S. financial markets will be closed early, and the overall trading may be limited. This trading day focus on the geopolitical situation and the European Union for the Russian oil price cap consultation situation.

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 22, 2022 Beijing time.

Technical Analysis

Due to the holiday, the CME was not updated with options data, only order flow points are available for reference.

Order flow key point marking (Spot Price)：

18078 Month high, mid-term resistance

1785-1795 Mid-term resistance

1773-1775 Second resistance

1766 Long-short boundary, key resistance

1758 Yesterday's daily high resistance

1750-49 Support level, possible pullback signal if below daily

1743-44 First support level

1736 Weak support level

1730 Neckline support of W-bottom, back to confirm, key

1722-25 Key support level this week (daily 382 retracement, previous double top)

1712 Starting point of CPI, key support in the medium term

Note: The above strategy was updated at 15:00 on November 25. This policy is a daytime policy. Please pay attention to the policy release time.

Order flow key point marking (spot price):

22.5 Mid-line resistance

22.05-22.25 Early high level, mid-line resistance

21.8 Key resistance: 78.6% down since last Tuesday+high on November 10

21.66 Daily high on yesterday, the upper limit of intraday consolidation

21.5 Weak resistance, basic breakthrough at present

21.35-21.37 Lower limit of intraday consolidation

20.9-21 Mid-line support

20.6 Mid-line support

Note: The above strategy was updated at 15:00 on November 25. This policy is a daytime policy. Please pay attention to the policy release time.

Order flow key point marking (January Futures Price)：

84.5 Second resistance of the week

82-82.5 First resistance

80.7 Small M top neck line resistance

80 Mid-line long and short boundary, and it is expected to resume upward momentum after the station

79-79.5 Trading heavy point, resistance zone

78.4 Maybe the resistance level, but the test is very difficult at present

78 Pay attention to whether there is a chance to step back or fall down again

77 Strong support within of the day

75-75.3 Yesterday rose to the low point+the low point in September, which is expected to form a daily double bottom, with strong support from the middle line

74 Second goal of short and key support, double bottom neckline last November

Note: The above strategy was updated at 15:00 on November 25. 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.