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11.18 Gold and crude oil today’s price rise and fall trend analysis and the latest exclusive operation suggestions and guidance layout
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Hello everyone, today XM Forex will bring you "[XM Group]: 11.18 gold and crude oil today's market rise and fall trend analysis and the latest exclusive operation advice and guidance layout." Hope this helps you! The original content is as follows:
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Analysis of the latest gold market trends:
Analysis of gold news: The gold market fluctuated downward last week. The spot gold price closed at US$2,565.49 per ounce on Friday, a cumulative drop of more than 4% from the beginning of the week, marking the largest weekly decline in three years. Market sentiment has been affected by multiple factors such as the reduction in expectations for an interest rate cut by the Federal Reserve, the strengthening of the U.S. dollar, and stronger-than-expected U.S. economic data. Traders are generally cautious about future gold price trends. This week's economic calendar is relatively light, and the market focus will be on the real estate industry. The U.S. is to release data on housing starts and building permits for October, as well as data on MBA mortgage applications and existing home sales. In addition, the market willPay attention to the Philadelphia Fed Manufacturing Index and the University of Michigan Consumer Sentiment Index. The speeches of multiple central bank spokespersons will also be watched, as the market tries to judge the speed and extent of future interest rate cuts.
Gold technical analysis: From a disk perspective, although gold fell below 2550 last week and hit a low of 2536 to stop falling and rebound, the bulls finally held on to the pressure around 2580. The daily line closed a negative line with a long lower shadow, so that the gold price continued to rebound in early trading today, and the current highest is around 2571. Looking at the daily line, the top is suppressed by the short-term moving average, and the daily line is arranged in a negative pattern for five consecutive days. Although the bottom is close to the lower track of the Bollinger Bands, the support is still likely to break downward. In addition, the short-term indicators are arranged downward. Although the short-term average is dominant on the daily line, attention should be paid to the strength of the bullish rebound. In 4 hours, last week's low of 2536 finally stopped gold's decline. The positive closing after the rebound ended the negative trend, allowing the price to return to running above the lower Bollinger Bands. The potential energy weakened the power of shorts, and the short-term moving average showed signs of turning upward. M The ACD indicator once again has a golden cross, which should give bulls a strong continuity. However, so far, this continuity does not seem to be strong, and the Bollinger Bands continue to open downward. Therefore, although the bulls are strong in the 4 hours, there is still room for a fall below. On the whole, today's short-term operation of gold, He Bosheng recommends to focus on long callbacks, supplemented by rebounds from high altitudes. The top short-term focus will be on the 2585-2590 first-line resistance, and the bottom short-term focus will be on the 2560-2555 first-line support.
Analysis of the latest crude oil market trend:
Crude oil news analysis: U.S. crude oil fell sharply during the U.S. trading session last Friday (November 15), trading around $67.17/barrel. Fundamentally, EIA crude oil inventory data showed that U.S. crude oil inventories increased by 2.1 million barrels last week, which was much higher than analysts’ expectations of an increase of 750,000 barrels, limiting the increase in oil prices. The U.S. dollar index hit a monthly positive for two consecutive months, close to the high in October 2023. The number of initial jobless claims in the United States was lower than expected, which caused the Fed's internal expectations for an interest rate cut to waver. The Fed Chairman's hawkish statement supported the strength of the U.S. dollar, putting pressure on U.S. dollar-denominated xmmen.commodities to decline. At present, the daily line of U.S. crude oil has not yet fallen below the box support, waiting for the direction choice after the weekly closing line. If the closing price is lower than the box support near $67/barrel, there is the possibility of downward acceleration.
Crude oil technical analysis: The crude oil market opened at 68.11 US dollars/barrel last Friday, then the market fell back to 67.93 US dollars/barrel, and then the market directly rose, with the daily line reaching a maximum of 68.45 US dollars/barrel. The 4-hour level of crude oil shows that oil prices continue to fluctuate in a range, with crude oil rising first and then falling, and the Bollinger Bands are parallel. If oil prices are hopeless to break through upward, there is a high probability that the downward trend will continue. Based on the above analysis: crude oil rose after breaking through the low last week. It fell back in late trading and left a long upper shadow line. The high level is under pressure. In terms of today's operating ideas, He Bosheng suggested that a rebound from high altitudes be the key.On the whole: the top short-term focus is on the 68.0-68.5 first-line resistance, and the bottom short-term focus is on the 65.5-65.0 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. Whether you agree with the views and strategies of the article or not, you can xmmen.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 xmmen.comes first, secondly consider operational risks, and finally how to make profits.
The above content is all about "[XM Group]: 11.18 gold and crude oil today's price rise and fall trend analysis and the latest exclusive operation suggestions and guidance layout". It is carefully xmmen.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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