Gold next week market trend analysis:
Gold news analysis: On Friday (December 15) in the US market, gold prices fell. As Fed Williams refutes market rate cut expectations. At the time of Williams's hawkish remarks, gold plunged as much as $17 before rebounding. As of press time, spot gold is currently trading at $2033.77 / oz. "We're not talking about cutting rates right now, we're very focused on the question before us, as Powell said, is our monetary policy taking a sufficiently restrictive stance to ensure that inflation comes back down to 2 percent?" That is the question before us. The Fed's third-ranking official added that the central bank would continue to be data-dependent and was ready to tighten policy again if the slowdown in inflation reversed.
On Friday, the S&P Global Flash U.S. manufacturing PMI fell further into contraction territory, to 48.2, down from 49.4 in November. Economists had expected a relatively unchanged reading of 49.5, according to consensus estimates. Meanwhile, the services PMI remained in expansionary territory, rising to 51.3 from 50.8 in November. The figure beat expectations and was largely unchanged at a consensus forecast of 50.7. Such a diffusion index above 50 is seen as a sign of economic growth. The higher the indicator is above or below 50, the greater or smaller the rate of change. After the Fed signaled an end to its monetary policy tightening cycle, the central bank left its key interest rate unchanged for the third time in a row, releasing forecasts that showed it would cut rates to a median 4.6 percent by the end of 2024, meaning it would cut rates three times next year by 25 basis points each. Williams' comments that the Fed is focused on whether it is doing enough to raise rates were an apparent rebuttal to the rate-cutting atmosphere at Thursday's Fed press conference. Cutting interest rates "is not a discussion of what we are going to do." The gold market did not react much to the latest economic data. Gold has maintained solid gains this week, with resistance just below $2,050 an ounce as diverging U.S. economic activity disrupts the economic outlook.
Gold technical analysis: From the current gold plate point of view, the previous trading day rose and fell, and there is indeed greater pressure on the 2047 line. To break through this pressure, gold needs to step back and accumulate energy. In addition, the whole upward trend is driven by the news, although the rapid rise, but the foundation is not solid. Therefore, after a back-and-forth phase, the bears are expected to resume their decline.
At present, the price of the disk has repeatedly rebounded to test the resistance of 2045-47, which shows a strong suppression effect. Therefore, the day can focus on this position, as a basis for participation in the short order. At the same time, 2040 is an important resistance point of the previous decline. If the market rebounds later, this position can be used as an opportunity for subsequent entry of empty orders.
Gold was affected by the news, the 1-hour chart killed in a straight line, and did not continue the decline, but horizontal consolidation, is a potential reversal or pressure fall, waiting for confirmation on the form. In the short term, there is no real breakthrough in the resistance of 2047, the bullish momentum is insufficient, therefore, the current trend of gold is to store short, and the short term remains unchanged under the resistance of 2040. In summary, gold next week's short-term operation ideas suggest that the rebound is mainly short, the pullback is supplemented by more, the short-term focus on 2030-2035 resistance, and the short-term focus on 2010-2005 support.
Gold news analysis: On Friday (December 15) in the US market, gold prices fell. As Fed Williams refutes market rate cut expectations. At the time of Williams's hawkish remarks, gold plunged as much as $17 before rebounding. As of press time, spot gold is currently trading at $2033.77 / oz. "We're not talking about cutting rates right now, we're very focused on the question before us, as Powell said, is our monetary policy taking a sufficiently restrictive stance to ensure that inflation comes back down to 2 percent?" That is the question before us. The Fed's third-ranking official added that the central bank would continue to be data-dependent and was ready to tighten policy again if the slowdown in inflation reversed.
On Friday, the S&P Global Flash U.S. manufacturing PMI fell further into contraction territory, to 48.2, down from 49.4 in November. Economists had expected a relatively unchanged reading of 49.5, according to consensus estimates. Meanwhile, the services PMI remained in expansionary territory, rising to 51.3 from 50.8 in November. The figure beat expectations and was largely unchanged at a consensus forecast of 50.7. Such a diffusion index above 50 is seen as a sign of economic growth. The higher the indicator is above or below 50, the greater or smaller the rate of change. After the Fed signaled an end to its monetary policy tightening cycle, the central bank left its key interest rate unchanged for the third time in a row, releasing forecasts that showed it would cut rates to a median 4.6 percent by the end of 2024, meaning it would cut rates three times next year by 25 basis points each. Williams' comments that the Fed is focused on whether it is doing enough to raise rates were an apparent rebuttal to the rate-cutting atmosphere at Thursday's Fed press conference. Cutting interest rates "is not a discussion of what we are going to do." The gold market did not react much to the latest economic data. Gold has maintained solid gains this week, with resistance just below $2,050 an ounce as diverging U.S. economic activity disrupts the economic outlook.
Gold technical analysis: From the current gold plate point of view, the previous trading day rose and fell, and there is indeed greater pressure on the 2047 line. To break through this pressure, gold needs to step back and accumulate energy. In addition, the whole upward trend is driven by the news, although the rapid rise, but the foundation is not solid. Therefore, after a back-and-forth phase, the bears are expected to resume their decline.
At present, the price of the disk has repeatedly rebounded to test the resistance of 2045-47, which shows a strong suppression effect. Therefore, the day can focus on this position, as a basis for participation in the short order. At the same time, 2040 is an important resistance point of the previous decline. If the market rebounds later, this position can be used as an opportunity for subsequent entry of empty orders.
Gold was affected by the news, the 1-hour chart killed in a straight line, and did not continue the decline, but horizontal consolidation, is a potential reversal or pressure fall, waiting for confirmation on the form. In the short term, there is no real breakthrough in the resistance of 2047, the bullish momentum is insufficient, therefore, the current trend of gold is to store short, and the short term remains unchanged under the resistance of 2040. In summary, gold next week's short-term operation ideas suggest that the rebound is mainly short, the pullback is supplemented by more, the short-term focus on 2030-2035 resistance, and the short-term focus on 2010-2005 support.
Trade active:
Last week we predicted that gold would break through 2040 and they ended up at 2048, and then we sold gold in 2045 and they reached our target 2018. Now I predict that gold will continue to fall next week, we will continue to sell in the right position, wish us good luck
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GOLD2020 sell tp2005-2000 SL2028
Trade active:
Hit 2025 can continue to sell, the target is unchanged, stop loss can be placed in 2031
Trade active:
Today we had two gold trades, we bought gold in 2017 and they managed to reach our target 2026, then sold gold in 2026 and ended up with a loss in 2028, overall gold was very small today but we also had a good profit. In terms of crude oil, we sold at 72.2 today and finally closed the order at 71, and then sold again at 72.5 and finally closed the order at 72.8. The overall trading rhythm today is not very good, although there are good profits, there is a loss. I hope we can have a better trading rhythm tomorrow to help everyone make more money. You can contact me anytime if you need help