He Xiaobing: Gold climbs slowly, stays low and breaks highs, crude oil widens 12.09
After continuing to break through the high 1804 area on Monday this week, Gold accelerated to the 1810 area, then used that as suppression pressure to enter a sustained decline in heavy volume, breaking the low non-agricultural area of 1778.5 and further descending to area 1766.
Then it started repeatedly testing the support around the 1766-1768 area, and finally the support was effective and it started swinging, slowly climbing and bouncing higher
On Wednesday and Thursday, relying on the initial lows, slowly climbed and climbed higher, after breaking the highs, stepped back to confirm the support point, then climbed higher and broke more up.
Today’s low point is in the 1788-1789 area, and the white market price relies on this to move upwards and find the 1797.6 area, and the European market price returns to the low point again. low point support
Looking at gold from the time cycle, the high level slowly rises, and the price will step back to determine the support point in the European market. The price holding the support point is also the support of the low point area. It will continue to slowly rise to find upper resistance. The current closest resistance point is the 1802 area, so it is 1805-1808 on the red channel upper trace and the 1810 area of this week’s high point
In addition, it is noted that the position of the four-hour lifeline has moved up to the 1782 area and the position of the bottom rail of the Red Channel Line has moved up to the 1778 area.
Therefore, for today’s gold, if the price can hold the support point of the 1788-1789 low point area, it will continue to maintain a slow up and up, climb up to find the pressure at 1802 area, then do reference space to sweep and expand range around 1802-1782 range continues until new range opens.
The following is the spot price of crude oil, on this basis minus 0.07 is the futures price of crude oil
Crude oil has shown a sharp decline this week. On Monday and Tuesday, it tended to go down in heavy, weak volume. On Wednesday and Thursday, it fluctuated back and forth along the green channel line, stalled strongly, bounced and snapped, and then fell back under pressure after determining resistance. Break the idle, then pull up to rebound and sprint. At the corresponding time point, before the US market, it is time to bounce and run towards resistance. After the US market, it is time to rise and fall to determine resistance. It accelerates when it starts and reverses when corrected. This is the same as before. Gold is relatively similar.
Today’s European market price moves back to 71.4 area to confirm the support and bounces again to find the green channel line position, and then the price will accelerate further to find the upper resistance when it is at the green channel line. one is the four-hour lifeline 73.9 area, and the other is to determine the resistance point The range of 74.8, and finally the rebound of the previous two days determined the 85 resistance area, 2-85.4, holding high and breaking low to see acceleration, breaking high and expanding the shock range.
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