Australian Market Extends Gains In Mid-marketfxcue.com

(fxcue news) - The Australian stock market is extending its gains in mid-market trading on Monday, snapping a three-session losing streak, with the benchmark S&P/ASX 200 index moving well above the 8,100.00 level, with gains across most sectors led by technology, mining and energy stocks. The benchmark S&P/ASX 200 Index is gaining 96.20 points or 1.19 percent to 8,163.20, after touching a high of 8,164.50 earlier. The broader All Ordinaries Index is up 97.30 points or 1.17 percent to 8,414.00. Among the major miners, BHP Group and Fortescue Metals are edging up 0.2 to 0.4 percent each, while Mineral Resources is gaining more than 2 percent. Rio Tinto is edging down 0.4 percent. Oil stocks are mostly higher. Santos and Beach energy are gaining almost 1 percent each, while Origin Energy is adding almost 2 percent and Woodside Energy is advancing 1.5 percent. Among tech stocks, Afterpay owner Block is gaining almost 3 percent, Zip is surging almost 7 percent, Xero is adding more than 1 percent, Appen is advancing more than 7 percent and WiseTech Global is edging up 0.5 percent. Gold miners are mostly higher. Evolution Mining is gaining more than 1 percent, Northern Star Resources is adding almost 1 percent, Newmont is advancing more than 3 percent, while Gold Road Resources and Resolute Mining are up almost 2 percent each. Among the big four banks, National Australia Bank and Westpac are gaining almost 2 percent each, while Commonwealth Bank and ANZ Banking are adding more than 2 percent each. In the currency market, the Aussie dollar is trading at $0.626 on Monday.

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Trader

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

Tags

Australian Market Extends Gains In Mid-market

U.S. Consumer Prices Inch Higher In November

Sensex

U.S. Consumer Prices Inch Up Slightly Less Than Expected In November

U.S. Consumer Confidence Unexpectedly Deteriorates In December

Indonesia Stock Market May Extend Friday's Gains

U.S. Dollar Gains Against Majors

Australian Market Extends Gains In Mid-market

U.S. Consumer Sentiment Improves In Line With Preliminary Estimate In December

Please sign in

Trader

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

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