He Xiaobing: Gold and crude oil continue to fall, keeping high is the key 10.11
Gold went downhill yesterday Monday, with highs down, lows refreshed, a small rebound, a big drop, steadily falling below the 1680 and 1670 levels, and continued low and sideways jump correction in late trading.
In early trading today, the price rebounded slightly at 1673.5 and then fell below the low point once more under pressure, and continued to find the 1661 area.
When the time came to the European session, the price kept fluctuating within a narrow range between the upper and lower highs and lows.
The overall rhythm is similar to last week’s Monday and Tuesday. Last week, it pulled up and broke through strongly on Monday, and adjusted slightly on Tuesday to break the high and continue to climb.
Well, for today’s gold on Tuesday, there has been a wave of continued decline in early trading. Next, focus on high points as defense, keep high and break low and continue to watch pressure accelerate.
The high point pressure 1673.5 area is the next key, where the defense can be suppressed successfully. The following focuses on the low point of last week and the range of 1660-1659 in the starting point area, and then falls below the low point and finds the next support point. 1645 area.
Of course, the requirement of all this is not to break through the high point and stand on the high point. Only in this way can the continuous rhythm be maintained.
This is also in line with yesterday’s overall falling rhythm. The high point moves down and the low point refreshes. In the process, the rebound does not break the previous high point and continues to be under pressure and break the low point.
If this rhythm is changed, the follow-up should pay attention to the gain and loss of the resistance point 1679-1680, which was the final resistance overnight, then the sweep will be more obvious in this case.
Therefore, for the next gold, following continuing to fall below the low level in the early trading, pay attention to the defense of the high point, keep the high point and break the low point and watch the acceleration, and break the high point and become volatile.
In the early trading, gold defended the low point area and gave a long order in the 1668 area, and took 1662 as the loss point to look for the final resistance point overnight, but the price continued to fall, and the long order hit the stop loss and went out.
The next participation is to first use the high point as a suppression to see the continued decline. If the rhythm changes once more, you can refer to the support and resistance for further switching.
Referring to this idea, the following plan layout is given:
Go short near gold 1672, stop loss 1679, target 1664-1660
The following is the spot crude oil price, on this basis +1.0 is the futures crude oil price
Note that as the delivery period is approaching, the spot futures spread will widen until the futures delivery begins, and the spot and futures prices will narrow the spread once more.
After the five consecutive yang of crude oil, yesterday’s idea was to beware of the final high, and then began to fall under pressure, and then fell back to the red channel to take a step down to the black rising line.
In early trading today, the price fell below the black rising line, suppressing the area below it. Therefore, the idea given is that the defensive starting point will continue to bearish and fall, and following the price rebound continues to be under pressure below the black rising line, it will be under pressure once more in the followingnoon and go lower.
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