News 24K99 On Wednesday (November 23) in the Asian market, the gold future fell sharply in the short term, and the gold future fell below 1735 US dollars per ounce. The Kshitij Consulting Service (Kshitij Consulting Service) team recently wrote an article on the future of gold,moneyfuture,rawFutures trend and copper futures for advance analysis.
(Gold futures 15 minute chart source: 24K99)
Kshitij Advisory Services team wrote in the article that gold futures and silver futures need a strong break through the resistance levels of $1,760/oz and $21.30/$50/oz to avoid a pullback in the next trading days.
New York gold futures closed slightly higher on Tuesday. Dollar and US Treasury yields are moving lowerprice of goldget a bracket.
Gold futures for December delivery on the New York Mercantile Exchange closed up 30 cents, or nearly 0.02%, at $1,739.90 an ounce on Tuesday. Gold futures closed at $1,731.40 an ounce on Monday.
Investors await the release of the minutes of the Federal Reserve’s monetary policy meeting on Wednesday for clues on the Fed’s monetary policy path. If the wording of the minutes is hawkish, gold may suffer a bigger blow.
At 03:00 Hong Kong time on Thursday, the US Federal Open Market Committee (FOMC) will release the minutes of the November monetary policy meeting.
On November 2, the Federal Reserve raised interest rates by 75 basis points for the fourth consecutive time, to a range of 3.75%-4%. The Fed also said it needed to keep raising interest rates to deal with the worst inflation in 40 years.
gold,The Kshitij Advisory Services team noted that gold futures remain below $1,750 per ounce. As mentioned yesterday, to ease the downward pressure and move further towards $1795-1800/oz, gold futures need a strong break above $1760/oz. The support level is $1725-1720 per ounce. As long as it stays above $1720/oz, gold futures are likely to continue trading between $1720-1760/oz (narrow range) and $1720-1800/oz (broad range) for some time.
(Gold futures daily chart source: Kshitij)
for money,Kshitij Advisory Services said silver futures tested $21.37 an ounce yesterday before falling back from that level. Only a strong rise from 21.30-21.50 US dollars per ounce can cause silver futures to rise to 22 US dollars per ounce; otherwise, the possibility of silver futures falling to 20.00 dollars per ounce cannot be denied.
(Money futures daily chart source: Kshitij)
crude oil,The Kshitij Consulting Services team said that Brent crude oil futures are currently held above 87 US dollars/barrel. If it stays above $87/barrel, Brent oil prices may test $92-93/barrel, and then the trend is expected to reverse. Only if it continues to fall below 87-85 US dollars / barrel, it is possible to drag the price of Brent oil down to 80 US dollars / barrel, or even to 77.55-75 dollars per United States / barrel.
(Daily chart of Brent crude oil futures source: Kshitij)
WTI crude oil futures rose slightly and are currently above $80 a barrel. If it can stay above $80/barrel, then WTI oil price can test $83-85/barrel, and then it is expected to fall back. Only when it falls strongly below $80/barrel, WTI oil prices can fall further to $70-68/barrel.
(Daily chart source of WTI crude oil futures: Kshitij)
copper side,Copper futures currently look stable above $3.60 / lb, according to the Kshitij Advisory Services team. Short-term support is at $3.50/lb. As long as it is above $3.50/lb, copper futures have room to rise towards $3.8-3.85/lb. If it falls below $3.5/lb, copper futures are expected to test down to $3.370-3.360/lb.
(Daily copper futures chart source: Kshitij)
Huge information, accurate interpretation, all in Sina Finance APP
Editor in charge: Zhang Jingdi
