SMM7, March 1:
I. changes in macroeconomic policies:
1.IMF World Economic Outlook report: the global economy is expected to grow by-4.9 per cent in 2020, compared with the previous forecast of-3 per cent; it has lowered its forecast for global economic growth in 2021 from 5.8 per cent to 5.4 per cent. Us GDP growth is expected to be-8 per cent in 2020, compared with a previous forecast of-5.9 per cent.
Two. Market performance:
Gold rose moderately in the previous session, with a high of $1786 / oz and a low of $1765 / oz to close at $1780 / oz.
In the previous session, TD gold rose slightly, closing at 397.95 yuan / kg, up 0.45 yuan.
Last trading day, TD silver rose slightly, closing at 4290 yuan / kg, up 2 yuan.
Three. Position analysis:
Gold and silver CFTC non-commercial net long positions are in the middle and high level, and the risk of long positions is gradually accumulating.
Fourth, technical analysis:
On the previous trading day, the London gold daily line closed with a Zhongyang line, the highest price broke through the previous session's highest price, the closing price closed above MA5, MA5 went up, MA60 continued to extend upward, and the RSI index was in the normal range, which has successfully broken through the previous consolidation range and will continue to rise in the short term.
The first support level is $1772 / oz below, the second support level is $1765 / oz, the first pressure level is $1786 / oz above, and the second pressure level is $1800 / oz above.
5. Focus on Today
20:15 US June ADP payrolls (ten thousand).
22 ISM Vol 00 USA June manufacturing PMI.
02:00 Thursday, the Federal Reserve released the minutes of its June monetary policy meeting.
Six. direction suggestion:
Gold
For gold medium-and long-term trading in the early multi-order to continue to hold;
For Loco-London gold several days of trading in the early multi-order to continue to hold, no positions wait and see. ;
For TD several days of trading pre-multiple orders continue to hold, no positions wait and see;
For intraday trading, Loco-London gold trading within 20% of the daytime position within 1774 bargain, 1764 stop loss, 1785 stop profit;
For intraday trading, during the day TD gold 30% position within 399 low gain, 397 stop loss, 400 stop profit;
Silver
For silver medium-and long-term transactions more than one order to continue to hold;
For a few days of trading silver TD Prophase multi-order to continue to hold, no positions wait and see;
For intraday trading silver TD4350 bargain, 4280 stop loss, 4390 stop profit;
For spot trade transactions may rise slightly today, if not timely operation, as far as possible in the futures hedging operation.
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