Analysis of gold news: Entering the U.S. market on Monday (November 6), as U.S. bond yields rebounded slightly, gold came under pressure and fell back from above $1,990 during the day. Although the weak non-agricultural currency expectations last week brought forward the Fed’s interest rate cut expectations, But gold prices don’t seem excited about this. This week, gold will continue to track the situation in the Middle East. At the same time, many Federal Reserve officials will appear on stage this week, including Federal Reserve Chairman Powell. Gold prices fell on Monday after U.S. Treasury yields edged higher and ahead of a speech later this week by Federal Reserve Chairman Jerome Powell that will further clarify the outlook for interest rates. Spot gold is currently down 0.3%, hitting a low of $1,979.87 an ounce, after breaking through the key level of $2,000 last Friday.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the first-line resistance of 1988 at the top and the first-line support of 1960 at the bottom.
Analysis of crude oil news: In the U.S. market on Monday (November 6), crude oil prices were trading around US$80.90/barrel. Crude oil fell sharply again last Friday, completely giving up last Thursday’s gains and continuing to set new geopolitical trends. The low after the conflict closed down for the second consecutive week. WTI crude oil was once only 0.1 US dollars away from the US$80 mark. The bulls struggled to resist resistance in the key support area. After more than 10 months of long and short competition, crude oil A very exaggerated long-term cross star has closed on the annual line. This is an extremely chaotic stage for the crude oil market. Oil prices have experienced rapid fluctuations in the past week. Geographical factors and macro factors are intertwined, making it difficult for investors to form a stable view on oil prices. The emergence of the Palestinian-Israeli conflict has changed the rhythm of oil prices. Oil prices once rebounded from the low of early October by nearly 10 US dollars due to the premium injected by the geopolitical conflict. However, as the geopolitical influence gradually weakened, oil prices gave up the impact caused by geopolitical factors. Gains, U.S. Secretary of State Antony Blinken made clear on Friday that the United States is determined not to allow a second or third front in this conflict. The risk of geopolitical loss continues to decrease, but the uncertainty it brings is still affecting the market. Changes at the macro level in the past week have also made investors hesitate to judge the market outlook. Although the pressure to raise interest rates has been greatly eased, China, the United States, Europe Worries caused by less-than-expected economic data still overshadowed the positive factors, and oil prices finally closed sharply lower on the weekly basis. Investors’ judgment on oil prices is obviously in an unstable stage. Overall, the crude oil market has lost its upward drive, and bulls are in a passive resistance stage. The market focus has turned to focus on the performance of the lower support area, and the probability of crude oil continuing to fluctuate sharply. Larger, pay attention to the rhythm and control the risks.
Today’s crude oil strategy: It is recommended to focus on rebounding high, supplemented by callbacks low and long. Focus on the 81.6 first-line resistance at the top and the 79.0 first-line support at the bottom.
The operation of gold and crude oil strategy must be done carefully, the above strategies are recommended only for reference.
