SMM News: [outer disk, news] last Friday night, COMEX gold closed at 1865.1, down 0.66%, daily line Xiaoyin remained below the daily average, short-term daily average diverged after death, MACD downlink opening. Weekly K line closed big yin, MACD dead fork, Sunday line showed C wave adjustment, support 1852, pressure 1885 X Comex silver closing 23.010, down 0.88%, daily line Xiaoyin, short-term daily moving average and MACD downward maintenance. The weekly K-line closed at Juyin, close to the 2016 high, technically showing a C-wave deep tune, supporting 22.5 and a pressure of 23.7.
News side: the initial monthly rate of durable goods orders in the United States in August increased by 0.4%, and is expected to grow by 1.4%, compared with an increase of 11.4%. World Health Organization (WHO) said that the increase in the number of hospitalized cases of COVID-19 in some European countries is worrying.
[fund positions] Gold ETF positions 1266.84 tons, down 0.02% from the previous day; silver ETF positions 17014.31 tons, an increase of 0.34% over the previous day. For the week ended September 22, CFTC announced 219060 non-commercial net long positions in gold, down 9.10 per cent from the previous week, while silver had 38947 non-commercial net long positions, up 1.56 per cent from the previous week.
[futures trend] on Friday night in China, Shanghai gold opened low and rebounded, the 5-day moving average pressure was tested, and the daily average spread, but the MACD green column was shortened, showing a weak rebound and correction trend; Shanghai silver opened low and temporarily stable, and the daily line was still suppressed by the 5-day moving average, but the MACD green column shortened, the futures price approached the rising platform in June, and the weekly online futures price deviated too far from the moving average, and the short-term action could be limited. Fundamentally, there are high outbreaks in European countries, and the British Prime Minister said that the second wave of outbreaks was inevitable. World Health Organization (WHO) voiced his concern that the US dollar would recover in the short term; at the same time, the US stock market had stopped falling and rebounded. Gold and silver short-term continues to be under pressure, C wave adjustment remains unchanged, and the rebound correction is limited. AU2012 supports 393, pressure 402. AG2012 supports 4850, pressure 5050.
[operating strategy] the medium-term rally of Shanghai Gold has not been completely negated, in the short term, the weak correction in the C wave tone, the AU2012 empty single reference 5-day moving average pressure is held cautiously; the medium-term rising trend of Shanghai Bank is not completely negated, the short-term weak correction, and the short-term trading of AG2012 reference technology level.
