It’s Xiaobing: Gold form narrows and waits for non-agricultural crude oil, be careful of space correction 10.07
On the last day of the holiday, the safety of the return trip comes first, and personal epidemic prevention is more important.
The non-farm payrolls report will be released tonight, so pay attention to risk management.
Gold and crude oil also saw ups and downs this week, driven by the ups and downs of the US dollar.
Gold went on a continuous rise on Monday and Tuesday. After confirming the 1660-1659 support on Monday, it started to climb and sprint faster. On Tuesday, it stepped back a bit to confirm the 1695-1694 support and continued to climb and break high , and then the space correction arrived on Wednesday and Thursday.
The box runs in the interval around 1700-1730.
This wave of gains started on Wednesday last week. After the price broke down, it formed a bottom and rebounded. It then took a space correction on Thursday and Friday last week, and continued to climb further this week when will the US dollar index fell suddenly.
As for whether this wave of rebound is over, what needs to be paid attention to is the protection of the low point and the dividing line of the purple trend line.
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As you can see in the picture, this rising wave is still maintaining the rhythm of keeping low and breaking high, so if you want to make a change, you need to complete the act of breaking’ the low first, and change to the rhythm of breaking the low and turning it into a shock.
The current low point is close to the effective support, one is at 1700 (a slightly larger one is 1694), and the other is 1660-1659 (far distance) to step back to determine the support point.
In addition, pay attention to two directions. One is the red channel range in the early stage. Now it is still hovering and changing on the lower rail position of the channel line. It needs to break through the high point to form support effective , and then find the area of maximum rail pressure 1744.
The other is a four-hour pattern. After continued sideways trading, the pattern narrows and closes at 1627-1702, which corresponds to the gap change and direction extension after the development subsequent.
Pay attention to the upper 1744 rail of the red channel (expanding the 1752 area), and pay attention to the upper 1680 of the previous box (expanding the 1672 area).
At present, the price is in a state of spatial correction. With the narrowing of the shape, it is ready to wait for the non-agricultural market in the evening to lead the widening of the range.
Gold fell back to 1720 overnight and was under pressure here, as the market boundary line, pay attention to the support 1705-1702 area below, followed by the low point protection of the 1694 range, if the price re-stands above 1720, Then the entire market space is turned up, and the 1727-1730 area of the four-hour upper rail and the adjacent high point is searched up.
So, for gold today, apart from the non-agricultural news market that is concerned, technically, we need to pay attention to the 1720 border, in order to change the space, and at the same time pay attention to the interval. the four-hour pattern opening, and the subsequent pattern opening will lead the direction of A waves.
The following is the spot crude oil price, and +0.6 is the future crude oil price.
Affected by the good news, crude oil has gapped higher and opened higher since Monday, and has continued to climb higher, achieving a four-day rise. In the process, although there is room for correction, the speed is faster and the scope of the space is relatively small.
As shown in the chart, the price climbed steadily after a gap, breaking new highs one after another.
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If there is a correction, you can go further. If there is no correction, you must be careful of spatial correction. After the correction is confirmed, the correction will be relatively large. This is the characteristic of crude oil.
The black rising line position at 87.3 in the picture is today’s focus. The price can fall back below the black rising line. Look at the four hour rescue line at 86.4-86.3 If it falls below the four hour rescue line hour , the price will expand to find the purple trend line and the red channel. The line below the rail position is 84.6 range.
The price of the white plate only stepped back to the black rising line, and then rebounded. Continue to pay attention to the pressure of the high point, stop it successfully, and maintain the above idea when it falls according to.
Otherwise, the pressure range of 89.4-89.6 on the upper rail of the red channel will be the final resistance position.
Today is Friday, which is non-agricultural Pay attention to risk management. This is still the old rule. We only provide informational reminders for cooperative friends.
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