1.17 Analysis of Gold, Foreign Exchange, and Crude Oil
Yesterday, gold overall rose strongly and was sold short at 2726 in the closing session. Unfortunately, it fell short and closed at 2614 with a small bullish line with an upper shadow. From the current market perspective, yesterday broke through the diagonal pressure and walked a few more dollars upwards, but closed below this level. At the same time, the daily chart price deviated from the moving average, but the price has already reached the upper limit. Today's closing is crucial, as the probability of the market further rising above the upper limit is greater than falling. If it cannot be stopped, it will return to the oscillation zone. Therefore, for today's two steps, one is to suppress near last night's high point, and the other is to suppress the upper three lines after breaking through the high point. The short-term support below is at the daily chart gap of 2702. Therefore, comprehensive analysis is needed. See: Buy long first and then sell short.
On a daily basis, the price has fallen by more than 2702, with a loss of 2697. The target price is 2710-22. The price has broken through to 2730-37. Throughout the day, there has been one short sale at 2737, with a loss of 2742. The target price is 2670. Other price points are subject to offline market warnings based on the market trend.
GBP/JPY： Still weak, but with limited downside potential, wait for another wave of buying at the bottom of the 187.5 line.
Crude oil: sell high and buy low between 75.6-79.3.
The above ideas are for reference only. There are risks in the market, and investment needs to be cautious.
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