Analysis of gold news: During the U.S. market on Monday (September 18), spot gold rose slightly as China’s strong physical demand for gold provided support for gold prices, and the market generally expected the Federal Reserve to keep interest rates unchanged this week. The price of gold once reached a high above 1930 during the Asia-Europe time period, and has now fallen back to US$1926.79 per ounce, with an intraday increase of 0.16%. Based on accelerating economic growth, cooling inflation and a solid job market, the latest forecast is expected to reflect Fed officials’ increasing confidence in the prospects of a soft landing for the economy, but they are expected to retain the possibility of another interest rate hike. Many institutions expect the Federal Reserve to maintain a hawkish stance while keeping interest rates unchanged, which leaves gold prices still facing certain downside risks.
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 1945 at the top and the first-line support of 1920 at the bottom.
Analysis of crude oil news: In the US market on Monday (September 18), international crude oil prices were trading around US$91.50 per barrel. The crude oil market continued its strong upward trend during Monday trading. This month, Saudi Arabia, with the support of OPEC partners such as Russia, extended its 1.3 million barrels per day production cut plan until the end of the year, accelerating the reduction of global inventories. When announcing the extension of production cuts, some analysts said that these production cuts were intended to promote stability in the global oil market. It is generally believed that Saudi Arabia needs oil prices above $85 per barrel to balance its budget. With OPEC effectively reducing production by 1 million barrels per day, higher prices remain a logical outcome. Despite occasional noise in the market, the overall trend appears to be bullish. Basically, the crude oil market is operating in a complex situation. The delicate balance between supply and demand as well as various global factors contribute to precise market behavior. Prices appear to be rising, but there are occasional fluctuations and bumps along the way. Caution and strategic thinking are key when dealing with this market, and selling crude oil seems like an unwise move at the moment given the ongoing supply woes. The International Energy Agency warned that the supply gap in the oil market will deepen in the fourth quarter as Saudi Arabia and Russia extend production cuts. As long as Saudi Arabia and Russia are willing to keep supplies tight, upward pressure will continue to be a factor in this market.
Today’s crude oil strategy: It is recommended to focus on rebounding high, supplemented by callbacks low and long. Focus on the first-line resistance of 91.7 at the top and the first-line support of 89.2 at the bottom.
The execution of gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
