SMM5 March 20: I. Macroeconomic policy changes:
'We are committed to using all our tools to support the economy in this challenging time, although we recognize that these actions are only part of a broader public sector response, 'Mr. Powell said in a speech to the Senate Banking Committee on Tuesday.
Two. Market performance:
Gold rose moderately in the previous session, with a high of $1748 / oz and a low of $1726 / oz to close at $1745 / oz.
In the previous session, TD gold fell moderately to close at 392.18 yuan / kg, down 7.12 yuan.
In the previous session, TD silver fell moderately to close at 4125 yuan / kg, down 148yuan.
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 closing price closed above MA5, MA5 went up, MA60 continued to extend upward, the Yang line entity completely ate the negative line entity of the previous trading day, the RSI index was in the normal range, the triangle interval finished finishing and broke through upward, the upper space opened, and continued to rise in the short term.
The first support level is $1738 / oz below, the second support level is $1722 / oz, the first pressure level is $1751 / oz above, and the second pressure level is $1765 / oz above.
5. Focus on Today
At 02:00 in the morning, the Federal Reserve released the minutes of its April monetary policy meeting.
Six. direction suggestion:
Recent market expectations of the Fed's negative interest rate measures and the poor performance of economic data have led to precious metal prices breaking out of the consolidation range and opening up further. Precious metals are likely to accelerate in the short term.
What we need to be wary of is how likely it is to introduce negative interest rates. Judging from the current economic "arsenal" of the United States, there are still relatively sufficient measures to deal with the deterioration of the economy. I am afraid that after the expectation of negative interest rate speculation, investors need to do a good job in controlling the risk of their positions.
For gold medium-and long-term trading early multi-order to continue to hold, those without positions wait and see for the time being;
For a few days of trading London gold 1727 murals 1730 range of multiple orders continue to hold, no positions wait and see;
TD wait and see for several days of trading;
For intraday trading within 20% of Loco-London gold positions within 1738 bargain, 1728 stop loss, 1765 stop profit;
For intraday trading TD gold 20% position within 392 bargain, depending on the specific situation stop loss, 398 stop profit.
For silver medium-and long-term trading low into many continue to hold;
For several days of trading silver TD before the multi-order to continue to hold, depending on the specific situation stop loss, 4400 stop profit, no position less than 4200 into 20% position;
For intraday trading silver TD4200 bargain, 4260 stop profit, cycle operation;
For spot trading today may continue to rise after a slight correction, if not timely operation, as far as possible in the futures hedging operation.
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