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market analysis
10.9 Gold and crude oil fell back from highs, latest market trend analysis and today’s exclusive operation suggestions
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Hello everyone, today XM Forex will bring you "[XM Group]: The latest market trend analysis of 10.9 gold and crude oil falling from highs and today's exclusive operation suggestions." Hope this helps you! The original content is as follows:
Only those who help themselves can help others. What is difficult is not making profits every day, but how to deal with adversity. People's will will be shaken with the passage of time and the influence of objective things. In good times, you need to look within. Only those who know themselves can be wise and move to a higher point. In times of adversity, you need to look within yourself. Only by strengthening yourself can you defeat the enemy! All external roots originate from our inner being! We cannot change the uncertainty of objective things, but only by following the laws of objective things from beginning to end can we go further! The so-called laws are actually fait accompli in historical data! Human nature is difficult, so history will repeat itself! Just like spring, summer, autumn and winter, the four seasons cycle, birth, old age, illness and death, joy, anger, sorrow and joy! So is the market! Because the essence of the market is the game of human nature!
Analysis of gold’s latest market trend:
Analysis of gold news: In early trading in the Asian market on Thursday (October 9, Beijing time), spot gold was trading around US$4,020 per ounce. The spot gold weekly umbrella exceeded the US$4,000 per ounce mark for the first time, continuing its record-breaking rise to US$4,059.07 per ounce. Increasing geopolitical and economic uncertainty, as well as market expectations of U.S. interest rate cuts, prompted investors to pour into safe-haven assets; during the Asia-Europe time on Wednesday (October 8), the global financial market witnessed a milestone moment - the spot gold price exceeded US$4,000 per ounce for the first time. As of 14:57, it once set a new record high to US$4,036.98, and is currently trading around US$4,032.16 per ounce. Behind this golden feast is the joint support of many forces. Fed's monetary policy shift becomes strongestPush hands. As the U.S. government shutdown enters its seventh day, the release of key economic data has stalled, and market expectations for interest rate cuts have become stronger. Futures contracts show that traders are betting with a probability of over 80% that the Federal Reserve will announce an interest rate cut of 25 basis points at this month’s meeting and implement another rate cut of the same magnitude in December. Tai Wong, an independent metal trader, said bluntly: "With the expectation that the Federal Reserve will continue to release water, the market has set its sights on the next integer mark of US$5,000."
Gold technical analysis: The current maximum has touched near the 4049.6 line, and while the recent highs have been constantly refreshed, we have become accustomed to it. Simply looking at the numbers has also refreshed our understanding, and this endless rise has also made the market become Unprecedented fear. Yesterday, the U.S. market retraced to the lowest level at 3961 and started to rebound upward. All the negative lines will also be used as corrections for bulls in the short term, not reversals. From this point on, no matter when placing short orders, it may be a wrong decision. Only by waiting for the decline after the impact, there may be a slight opportunity to enter the market and do long. However, although all indicators are currently strong, in the short term, we can only wait for the retracement to continue to do long. Judging from the 4-hour market trend, pay attention to the short-term support below and the 4000-3990 line. The bulls are rising strongly and do not want to support it. The operation is mainly to step back and do long. In the middle position, be more cautious and follow orders less, and wait patiently for key points to enter the market. On the whole, today's short-term operation of gold, He Bosheng recommends to focus on callbacks and longs, supplemented by rebounds from high altitudes. The top short-term focus will be on the 4048-4058 first-line resistance, and the bottom short-term focus will be on the 3990-3980 first-line support.
Analysis of the latest crude oil market trends:
Analysis of crude oil news: In early trading in Asia on Thursday (October 9, Beijing time), U.S. crude oil was trading around US$62 per barrel. Oil prices hit a one-week high on Wednesday. Traders expect that the lack of progress in the Ukraine peace agreement will keep sanctions on Russia in effect, while reports show that U.S. oil consumption is growing. U.S. crude oil futures prices continued to rebound during the Asian trading session on Wednesday, boosted by the "one increase and two decreases" inventory report released by the American Petroleum Institute (API). Data show that U.S. crude oil inventories increased by about 2.8 million barrels in the week ended October 3, far exceeding market expectations of 2.3 million barrels, while the previous week recorded an inventory drop of 3.7 million barrels. In contrast, gasoline inventories fell by 1.3 million barrels, and distillate (including diesel and heating oil) inventories fell by 1.8 million barrels, indicating that end consumer demand remained strong. This API inventory report reveals the current "supply and demand mismatch" characteristics of the U.S. energy market: crude oil production is still high, but gasoline and distillate consumption are strong, providing certain support for oil prices. In the short term, oil price trends still depend on EIA data verification and changes in the U.S. dollar index. If the U.S. dollar continues its weak trend, it may provide additional upward momentum for WTI. Overall, the oil market will still maintain a wide range of fluctuations amid fundamental repairs and policy uncertainty.
Crude oil technical analysisAnalysis: From the daily chart level of crude oil, oil prices have fallen below the lower edge of the range, and the objective trend is downward in the medium term. Oil prices fluctuated near the lower edge of the range. The MACD indicator fast and slow line is below the zero axis, and short kinetic energy has the advantage. It is expected that the medium-term trend of crude oil will fluctuate and decline with a high probability. The overall short-term (1H) trend of crude oil is mainly volatile. Oil prices are supported by the moving average system, and the short-term objective trend is upward. The bullish performance of crude oil in early trading was weak. But the downward momentum has not yet exploded. It is expected that after the correction of crude oil prices during the day, it will continue to move upward. On the whole, today's crude oil operation thinking: He Bosheng recommends to focus on the lows and longs, supplemented by the rebound from highs. The top short-term focus is on the 63.5-64.5 first-line resistance, and the bottom short-term focus is on the 61.0-60.0 first-line support.
He Boxheng’s message: I have no fancy language here, only real transactions and clear operations. The market has only one direction, neither long nor short, but the right direction. Reasonable risk control + good investment returns allow every retail investor to find the real joy of investing, instead of having to deal with daily hardships in exchange for increasing losses. I have always believed that choice is more important than hard work. In addition to bringing profits to customers, a good instructor and a good technical team should also be responsible to customers. Individual investors, facing the market on their own, can easily become obsessed with the authorities and be caught off guard when encountering sharp rises and falls. However, if there is someone outside the circle who can see the situation clearly and give direction, they can do better.
This article is exclusively planned by He Bosheng, a gold and crude oil analyst. Due to the delay of network push, the above content is personal advice. Due to the timeliness of online publishing, the suggestions in this article are for learning reference only. You should operate at your own risk. Regardless of whether the views and strategies of the article agree with others, you can www.xmltrust.come to me to discuss and learn together! Nothing is difficult in the world, as long as there are people who are willing. Investment itself carries risks. I remind everyone to look for authoritative platforms and powerful teachers. Fund safety www.xmltrust.comes first, secondly consider operational risks, and finally how to make profits.
The above content is all about "[XM Group]: 10.9 gold and crude oil fell back from highs, latest market trend analysis and today's exclusive operation suggestions". It was carefully www.xmltrust.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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