SMM5 March 27:
I. changes in macroeconomic policies:
New York Fed President Williams said that even though the United States has authorized nearly $3 trillion in fiscal relief measures to deal with the impact of the coronavirus outbreak, the United States can still afford to provide a lot of additional support to the economy.
Two. Market performance:
The price of gold fell moderately in the previous session, with a high of $1735 / oz and a low of $1709 / oz to close at $1710 / oz.
TD gold rose slightly in the previous session, closing at 392.87 yuan / kg, up 1.48 yuan.
Last trading day, TD silver rose slightly, closing at 4237 yuan / kg, up 108 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 cineal line with a shadow line, and the closing price closed below MA5, MA5 down, MA60 continued to extend upward, the RSI index was in the normal range, the triangle interval finished finishing, and the upper space opened. After a short-term callback to repair technical indicators, it may rebound after bottoming out today.
The first support level is $1700 / oz below, the second support level is $1682 / oz, the first pressure level is $1722 / oz above, and the second pressure level is $1736 / oz above.
5. Focus on Today
No important data or events.
Six. direction suggestion:
Recent market expectations of the Fed's negative interest rate measures and the poor performance of economic data have led to a breakthrough in precious metal prices from the consolidation range and a further opening of the upward space. in the short term, precious metals may continue to rise after a technical correction.
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 several days of trading London gold pre-single departure, 1736 short orders continue to hold, 1702 earnings, yesterday more than 1710 single light positions continue to hold, heavy positions first reduced by half waiting for 1702 to fill back;
For several days of trading TD 30% of the position 393empty order to continue to hold, 386stop profit;
For intraday trading within 20% of Loco-London gold positions within 1722 of the high short, 1725 stop loss, 1702 stop profit;
For intraday trading, TD Jin 30% position within 391 high short, 394 stop loss, 386 stop profit.
For silver medium-and long-term trading low into many continue to hold;
For a few days of trading silver TD4100 below the light position to gain more than every bargain;
For intraday trading silver TD4200 every high into the short, 4100 stop profit;
For spot trading today may fall slightly, if not timely operation, as far as possible in the futures hedging operation.
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