Gold will continue to rise! Crude oil 71.90 short a bumper harve
Gold market analysis
Gold first broke through 1936, and then rebounded directly. The high point rebounded to 1963, forming a big V, and broke through the strong pressure of 1957. Finally, the daily line closed with a positive line and a lower shadow line. This is a standard stop Falling and stabilizing signals, in fact, it can be seen that the strong support band of the weekly line is still not broken. Let’s first look at the rebound in the short-term today. This week is a super data week. There should be a few waves of back and forth. Risk comes first, try to watch more and move less.
Support 1949, 1943, pressure 1963, 1969, and the strength and weakness of the disk are at 1955.
Crude oil market analysis
Crude oil is now in a short market. This wave of decline is super large, directly breaking the support of the daily line and the weekly line. In the end, the daily line closed the negative line with bare heads and bare feet. Before 71.00 was the support of the daily line level, it has turned to the daily line level. The strong pressure of the 70.50-71.00 level has now pierced the support of the weekly line. From the perspective of form, there is still a lot of room for decline below it. Today's thinking continues to be bearish without a doubt. Shorting under pressure, we had a bumper harvest yesterday at 71.90.
Fundamental analysis
This week big data will be released one by one. Recently, there are many fundamentals and data, so the market direction is fluctuating back and forth. Last week, the debt ceiling issue led to intense market reaction. This week we will focus on ADP and non-agricultural employment data.
Action suggestion
Gold Do more around 1950, target 1963-1969
Crude oil short around 70.50, target 69.50, 68.50
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