Mohicans markets：The Market Awaits Signals From the U.S. Market

Key Data

Fundamentals overview

On Tuesday, September 6, spot gold was trading lower in Asian trading, turning into a bullish trend and approaching the first support at 1716.76; spot silver held steady above the pivoting point at 18.18, with primary support at 18.50; WTI crude oil was testing the pivoting point at 88.90, and once briefly broke the first support at 88.48, so we need to pay attention to its post-market direction choice; the dollar index was trading lower at the pivoting point 109.92 lower, but above 109.3 to get some support.

The 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 16:30 on September 6, 2022, Beijing time.

Technical View

ONE · Technical Level · International Gold

1745 Trend resistance level

1728-1730 resistance level1

722 Stronger intra-day resistance

1714 Asian session starting point, support level

1708 Short-term key support

1704 Non-farm night low, support

1690-1695 Support

1680 Intra-year key support level (long term)

Technical Analysis

Gold was slightly volatile on Monday with the Labor Day holiday in the US. Market liquidity returned today. But CME futures and options data were not updated, waiting for the start of the U.S. session to signal. The Asian market opened with the U.S. index falling back, prompting gold prices to move higher. However, it failed to stabilize above the 1722 bias resistance, and may have to wait for the U.S. market volume to pick up before seeing the direction. If 1722 can effectively break through, it is expected to have upside. In the medium term, the focus remains on the breakout of the 1745 trend resistance.

 Note: The above strategy was updated at 16:00 on September 6. This strategy is a day strategy, please pay attention to the release time of the strategy.

TWO · Technical level · Spot silver

18.9 Trend Resistance

18.54 Strong resistance

18.25 Asia-Europe support level

17.95-18 Key support level during the day

17.5 Key Support Levels

Technical Analysis

The gold-silver ratio continues to fall. As mentioned before, in the case of simultaneous rise of gold and silver, due to the repair of the gold-silver ratio, the increase of silver will be greater than that of gold. Judging from the situation in the Asian market, the callback after silver's uptrend is weaker than that of gold, which means that the gold-silver ratio continues to decline, and you can continue to pay attention to the rebound of the two during the day.

Note: The above strategy was updated at 16:00 on September 6th. This strategy is a day strategy, please pay attention to the release time of the strategy.

THREE · Technical Level · US Crude Oil

92.7 Resistance level

91 Key resistance level

89.5 Neckline resistance

88 key support level during the day

86.5 Strong financial support level

85-85.5 Support zone

Technical Analysis

Although OPEC announced a production cut of 100,000 barrels per day, the news has been digested by the market, and there are no other surprises in the fundamentals, so the impact on oil prices and the length of time are limited.

Oil prices stood at the neckline resistance of 89.5 overnight, but failed to stabilize in late trading. In the day, we still need to pay attention to the breakthrough of this resistance level, and the key resistance is still at 91. The short-term support below is still dense, and 85-88 has support, which can be regarded as a support range. In the medium term, 85-95 is the recent large trading range.

Note: The above strategy was updated at 16:00 on September 6th. This strategy is a day strategy, please pay attention to the release time of the strategy.

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. Mohicans Markets has made every effort to ensure the accuracy of the information as of the date of publication. Mohicans Markets makes no warranties or representations regarding this material. The examples in this material are for illustration only. To the extent permitted by law, Mohicans Markets 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 Mohicans Markets products, including applicable fees and charges, are outlined in the product disclosure statements available on the Mohicans Markets website and should be considered before deciding to deal with these products. Derivatives can be risky and losses can exceed your initial payment. Mohicans Markets recommends that you seek independent advice.

Mohicans Markets, (Abbreviation: MHMarkets or MHM, Chinese name: Mai hui), Australian Financial Services License No. 001296777.