Beautiful golden week four, the international gold prices rose by more than 4%, as of closing, the New York mercantile exchange gold futures trading is the most active than the previous session on June 9 gold futures rose $68.5 to close at $1752.8 an ounce, or 4.07%, at closing high since more than 7 years, the gold market this week, or nearly 4%, the fed again sluice, boost the precious metals market, the dollar index was below the back in 100, at the same time, the oil market stabilization is no longer a drag for gold, two key indicators suggest that arbitrage opportunities, new data on us employment last week remains bleak, please unemployment early high-profile, but given the employment data is a lagging indicator, and the market is expected, the U.S. job market may face the worst times, that there is no doubt that support gold prices, the federal reserve this week again start the stimulus plan, this is the greatest good for gold this week, in view of the fed's actions influence than other central Banks, other central bank easing action appears to be negligible, but the world's central Banks are still in continuous easing action, which helps gold hit a record high, institutional perspectives: the driver of the gold bull is still strong, or the seven hundred mark, this week will continue for many years of a bull market in gold market is becoming more and more reality, under the condition of the interest rate is extremely low, investors will continue to turn gold, currently 90% of momentum indicators showing bullish on gold, gold away from CTA (commodity trading advisor system) trigger point, appear again the possibility of selling the CTA,
2 - gold technical
Technical: day line v-shaped reversal; Above the golden cross MACD, KDJ index in 70, suggests that bulls relative strength, longer-term could rise further, upside target first to look at on Monday hit a high of $1669.54 on the line, if further upward, at high on Tuesday of $1679.68 a line, if the level is breakthrough to test on March 9, high of $1703.39, on the contrary, if the gold price fell back pressure, downside target at 1625.85 on the line, this is the 10 - day moving average support, but also from its peak reached last Friday; Below further attention after 1600 mark, which is not only an important psychological barrier, or cloth forest rail in place, has the strong support, once broken, bearish mood, will increase the market fell again, the 1577 a line is concerned, it is 1703.39 1451.55 50% of the downward trend retracement,
4 hours shocks upward; Level, four hours MACD made now dead fork, KDJ have just turn head to form gold fork but index of near 30, show that gold can have lower risk of short-term, support to pay attention to below 1640 on the line, this is the last few trading days hit a low, but also close to rail in the forest, have certain supportive, lost after near a line fell to 1607, this is 1703-1451.55 this wave fell 61.8% retracement; Below the 1600 mark for the further attention, once below, will further increase the risk of bearish, in turn, see below the 50% retracement 1577.27 a line, and this week low of 1569 line, on the other hand, the upward side, first focus on the previous session high of $1679.68 on the line, it was close to cloth belts on rail, repressive relatively strong, breakthrough after material to test previous high of 1703,
Together: callback do more than give priority to, can need to pay attention to above 1700 resistance, under all pay attention to near 1660,
3 - gold operation strategy:
1, it is recommended that consideration of shorting near the 1698-1700, stop loss at $5, near target at 1690-1675 dollars;
2, it is suggested that considering more near 1670-1672, stop $5, near target at 1685 - $1711
The article content is purely the author (oil) Chen personal point of view, do not order proposal, specific quotation will be subject to intraday trend, investment risk, market need to be careful,
