Gold moved higher yesterday, but it doesn’t seem that it had a major impact on even the short-term outlook as even the short-term resistance and the precious metal lost the momentum over the night
Yesterday, the markets were most concerned about the overall tone of the Fed but it left moderate, relatively small impact on the market, we expect the Fed bearish gold does not appear, the price of gold went during the night into shock. But before the Fed news, gold exhibit bearish technical patterns of the situation, but after a message, fundamentals and technicals did not resonate, then the price of gold into shock, in a sense, since it is possible to rise not fall, However, the sustainability of the rebound, I still remain skeptical, because I would be at the bottom for the dollar near the 94 mark construction rebounded, then gold will rebound obstacles, therefore, caution days only to see a rebound.
Gold yesterday fell below the planned rally short after 1222, former US gold ounce below the 1222 to 1217 the lowest position, but because of the Fed’s late at night there is a message, below the 1222 time seems too early, so the United States offer appeared more intense rebound , rebounded to around 1227-28, 1224-27 recommends shorting is also a matter of course, two in the morning the lowest test white lows near 1217 began to fall into shock, the current station when the hourly chart above ma60 again. Short term, the gold price is not absolutely weak pattern, overnight air alone did not profit by early redemption should avoid the risk of short-term rebound, then wait for the next opportunity to do a solo. H4 moving average was flat. There is no neutral policy. Sound can wait.
From the dateline point of view, on Tuesday to close in Yang Xian, Wednesday to close at Yinxian under the shadow line, and since Yinxian completely inside the candle, so the date line is not part of the disadvantaged. From the day under the shadow line of view, there will be a wave of rebound today, although I’m not sure whether the station on 1236, but rebounded to 1229-30 probability of still relatively large, but the rebound process can proceed smoothly also depends on the dollar response index, once the dollar index station on the 5th line against the line, then the gold rally will be difficult to proceed. Daily aspect, yesterday’s high of 1232, there are signs of shock convergence on h4, days short-term strategy: radical early 1225 more than a single continue to hold the 1220 loss of the chance to see Paul set to lighten up after 1230, might be able to break the convergence pressure on the border triangle ; short program, below 1220 before considering short, look to rebound 1225 1230 1218 loss empty. Recent gold mainly does short-term. The daily cycle of yin and yang aspects is expected to until after April 15 it may have a smooth market.
Silver yesterday, Wednesday staged a roller coaster trend, white plate today is expected to shock the city still does not appear significant unilateral desire, but after experiencing a long-term consolidation, and the subsequent need to focus on key points Power average, once Power follow-up action.
Crude oil, was a continuous movement of a great variety, regardless of 40.10 last week to start a short or long rally this week, 35.20 starts, during exercise almost no callback. Crude oil rebounded yesterday in line with the technical side but also in line with the news, not only for investors to re-OPEC “frozen production agreement” to restore confidence in the favorable factors, as well as promoting positive EIA data. US data Energy Information Administration (EIA) latest data show that as of April 1 the week crude oil inventories fell 493.7 million barrels, is expected to increase the value of 315 million barrels of crude oil rebounded to categorical data to inject new momentum. Yesterday’s recommendation to do more than look at 37.60-38 36.50-60, and almost to the point is the lowest intraday point if there will be a significant amount of money in accordance with policy enforcement. Today, Thursday, crude oil is expected to rise further to around 38.50, however, after rising a full two days, oil prices stand on the 38 mark, the target position step away from the short positions on the operation would be difficult to find the right point, the European plate back or waiting for the opportunity to step over 37.50 USD