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10.23 Gold fluctuates and falls, crude oil rises strongly, latest market trend analysis and today’s operation suggestions
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Hello everyone, today XM Forex will bring you "[XM official website]: 10.23 gold fluctuated and fell, crude oil rose strongly, the latest market trend analysis and today's operation suggestions." Hope this helps you! The original content is as follows:
For the recent ups and downs of the market, repeated long and short conversions, many investment friends are caught off guard, or do not know where to start. They fall as soon as they buy, rise when they exit, and continue to lose orders back and forth. In fact, this is what happens to many novice friends. I would like to tell you that when doing transactions, first of all, do not operate frequently, and secondly, you need to have a good understanding of the market. Accurate control and sticking to your own trading system, of course, are all empty talk for some novice friends. After all, they have just entered the market and do not have a strict trading plan. Most of them are chasing the rise and killing the fall, resulting in serious losses. If you are in the same situation when you read the article at this moment, you can consult me for www.xmh100.communication. I can help you point out all the problems in the order, so that you can avoid detours in the transaction process.
Analysis of the latest gold market trends:
Analysis of gold news: Spot gold prices bottomed out and rebounded during the Asian and European sessions on Wednesday (October 22). The Asian market once fell to 4,004.46 US dollars per ounce in early trading, and once recovered to around 4,160 US dollars per ounce during the European trading session. It is currently trading around 4,156.8 US dollars per ounce, an increase of about 0.75%. Precious metals prices edged higher on the back of bargain hunting amid concerns about the impact of the U.S. government shutdown and ongoing jitters about unsustainable global government debt. Growing expectations that the Federal Reserve will cut interest rates by another 25 basis points at its October policy meeting could push gold prices higher. Lower interest rates could lower the opportunity cost of holding gold, supporting the non-yielding precious metal. On the other hand, trade tensions between the United States and China appear to have eased as the two sides plan to reach a deal before the November 1 tariff deadline. thisMay weaken safe-haven demand. Looking ahead, traders will keep a close eye on U.S. September consumer price index (CPI) inflation data due later on Friday due to a data shortage caused by the government shutdown.
Gold technical analysis: Gold prices traded in the positive zone that day. Looking at the daily chart, the constructive outlook for the precious metal remains intact, with prices remaining above the key 100-day exponential moving average. However, with the 14-day relative strength index (RSI) pointing towards the midline, indicating neutral momentum in the short term, further consolidation or temporary selling cannot be ruled out. On the bullish side, a hold above $4,140 (October 15 high) could pave the way for further gains to $4,330 (October 16 high). Moving further, the next area of resistance lies in the $4,370 to $4,380 range, which is the all-time high and upper Bollinger Band. On the bearish side, the psychological $4,000 level is a key support level. Further downside support appears at $3,947 (October 10 low), with the next fight at $3,838 (October 3 low). On the whole, today's short-term operation of gold, He Bosheng recommends to focus on rebounding shorts, supplemented by rebounding lows. The upper short-term focus will be on the first-line resistance of 4070-4090, and the lower short-term will focus on the first-line support of 4000-3980.
Analysis of the latest crude oil market trend:
Crude oil news analysis: WTI crude oil remained at around US$57.55 during the Asian session on Wednesday and rebounded in shock. The current market focus is on the easing of trade concerns and improvement in inventory changes, which will make oil prices stronger in the short term. Investors are awaiting EIA inventory data for more guidance. Previously, the United States released a signal of relaxation, which reduced risk aversion. U.S. President Trump recently stated that high tariffs are unsustainable and is willing to promote improved relations with major Asian countries. The market therefore expects trade concerns to cool down, thus boosting confidence in the oil market. Oil prices will still be supported by sentiment and inventory data in the short term, but supply pressure still needs to be watched out for in the mid-term. Unless there are new changes in trade concerns, the market is likely to maintain a range-bound pattern. Keep an eye on key factors such as inventory changes and OPEC+ wording.
Crude oil technical analysis: From the daily chart level of crude oil, oil prices have fallen below the lower edge of the range, and the objective trend is downward in the medium term. Oil prices fell sharply in a single day, and the subjective and objective trend directions have been downward. The MACD indicator fast and slow line opens downward below the zero axis, indicating that short kinetic energy has the upper hand. The medium-term trend of crude oil is expected to be volatile and downward. The short-term (1H) trend of crude oil crosses the moving average system up and down, with a zone-level shock rhythm, and the range amplitude is between 56.00-59.60. Oil prices plummeted before and after a dip, but were quickly restrained. The long and short kinetic energy were in a stalemate with each other, regardless of whether they were up or down. It is expected that the trend of crude oil during the day will mainly fluctuate within the range and consolidate. On the whole, today's crude oil operation thinking is based on He Bosheng's suggestion to rebound from high altitudes, supplemented by falling back to lows. The top short-term focus is on the first-line resistance of 60.0-61.0, and the bottom short-term focus is on 57.0-56.0 first-line support.
This article is exclusively planned by He Bosheng, a gold and crude oil analyst. Due to the delay of network push, the above content is personal advice. Due to the timeliness of online publishing, the suggestions in this article are for learning reference only. You should operate at your own risk. Regardless of whether the views and strategies of the article agree with others, you can www.xmh100.come to me to discuss and learn together! Nothing is difficult in the world, as long as there are people who are willing. Investment itself carries risks. I remind everyone to look for authoritative platforms and powerful teachers. Fund safety www.xmh100.comes first, secondly consider operational risks, and finally how to make profits.
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