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11.20 Gold fluctuates and falls, crude oil rises strongly, latest market trend analysis and evening operation suggestions
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: 11.20 gold fluctuates and falls, crude oil rises strongly, latest market trend analysis and evening operation suggestions". Hope this helps you! The original content is as follows:
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Analysis of the latest gold market trend:
Analysis of gold news: In early trading in the European market on Wednesday (November 20), spot gold fluctuated downwards, and is currently quoted at 2625. Gold prices rose 0.79% on Tuesday, climbing for the second consecutive trading day, closing at $2,632.08 per ounce. It hit a new one-week high of $2,639.35 per ounce. After the U.S. government recently gave the green light to the use of ATACMS missiles, Ukraine used U.S. ATACMS missiles to attack Russian territory on the 1,000th day of the Russia-Ukraine war on Tuesday, triggering a rush for safe-haven assets while waiting for the Federal Reserve interest rate decision.key signals for planning. Overnight reports that Russia was changing its nuclear doctrine led to some safe-haven flows into gold.
Gold technical analysis: After gold hit a two-month low, the short-term trend bottomed out, mainly because U.S. President Biden announced that Ukraine can use long-range missiles provided by the United States to strike deep into Russia. Russia said it would respond to this reckless decision, which would directly involve the United States in the conflict. This increased the uncertainty of the major geopolitical event of the Russia-Ukraine conflict and boosted the safe-haven demand for gold. Hedging buying drove gold to rise.
Driven by yesterday's Yang line breaking through the 5-day line, today's gold market sentiment obviously continued to be bullish. During the Asian session, the pressure rebounded to the 2627 line, without breaking the expected 60-day line pressure. On the hourly chart, this also xmtraders.completed three short-term rebounds. However, gold suddenly rose again during the European session, with the pressure measured to the 2636 line. This trend on the hourly chart is a 4-wave small rebound rhythm. Such a state can exist, but it also reflects the current extreme sentiment in the market.
The United States continues to stir up tensions in the Russia-Ukraine conflict, market risk aversion has increased, and safe-haven buying has pushed gold up. In terms of operation, it is recommended to treat it with a shock approach. Affected by the cooling of expectations for the Fed's interest rate cut, it is difficult to determine whether the current rebound is a reversal unless tensions further intensify. The support below gold will focus on $2,620, followed by $2,610, and the pressure above will focus on $2,643, followed by $2,655. On the whole, today's short-term operation of gold, He Bosheng recommends to focus on callbacks and longs, supplemented by rebounds from high altitudes. The top short-term focus will be on the 2640-2645 first-line resistance, and the bottom short-term focus will be on the 2615-2610 first-line support.
Analysis of the latest crude oil market trend:
Crude oil news analysis: On Wednesday (November 20), U.S. crude oil maintained a volatile upward trend during the European trading session, trading around $69.87/barrel. Bullish attacks were weak, although geopolitical tensions supported a rebound in oil prices. However, the partial resumption of production at Norway's Johan Sverdrup oil field has offset the pressure on the supply side to a certain extent, while API crude oil inventories showed that U.S. crude oil inventories increased by 4.75 million barrels in the week ending November 15, which is not conducive to the strengthening of oil prices. At the same time, the U.S. dollar index still maintains a high level, and the probability of oil prices returning to the bull position is further reduced. If the geopolitical situation eases, the possibility of a second rebound in oil prices cannot be ruled out. During the day, the focus will be on EIA crude oil inventory data to see whether it supports the continued rebound of oil prices.
Crude oil technical analysis: The crude oil market opened at 69.22 US dollars/barrel yesterday, and then the market fell first, with the daily lowest reaching 68.63 US dollars/barrel, and then the market rose, with the daily highest reaching 69.9 US dollars. Yuan/barrel, the market was later consolidated under the pressure of the daily Bollinger Middle Track, and the daily line finally closed at 69.4 US dollars/barrel. The market closed in the form of a spindle with long upper and lower shadows. After such a form ended, crude oil continued to fluctuate. crudeAt the four-hour level, the upper, middle and lower Bollinger Bands tracks are all moving forward in parallel, forming a large channel. Currently, the K line is receiving pressure from the middle track of the Bollinger Bands and is trying to break through. After the moving average forms a golden cross, it does not have much momentum. Instead, it keeps moving parallel to the right. The market outlook will focus on whether the support is effective. Based on the above analysis, He Bosheng believes that crude oil is operating in a volatile range and is undergoing an upward test. Today's operation idea is to focus on the lows and longs, supplemented by rebounding from highs. The top will focus on the 71.0-71.5 first-line resistance in the short term, and the bottom will focus on the 68.5-68.0 first-line support in the short term.
He Boxheng’s message: Now is the era of the rise of the investment industry, and I believe investors are also confused. For example, what kind of investment to invest in, what platform to choose, how much money to invest, whether the funds are safe, whether it can make a profit, etc. Among the questions, He Bosheng has seen the experiences of too many customers in recent years. Some have doubled several times in a year, some have lost half of their money in a month, etc. I won't choose to change anything, and I can't change anything. The market is like this. All I can do is make myself work harder, insist on doing my own transactions well, and live up to the trust my customers place in me. I promise you too much, but what you get is vastly different. The trust between people is slowly lost. What I want to do is not a one-time transaction, but a long-term and win-win relationship. He Bosheng helps you establish your own investment ideas, so that you can go forward in the long run, create brilliance and achieve win-win cooperation.
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. Whether you agree with the views and strategies of the article or not, you can xmtraders.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 xmtraders.comes first, secondly consider operational risks, and finally how to make profits.
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