International gold market analysis:
On Tuesday, in addition to Biden’s inauguration, the US Senate will hold a hearing on Biden’s nomination of Yellen as Treasury Secretary and review the $1.9 trillion stimulus plan. Entering 2021, the US dollar has gradually shown signs of counterattack at the 90 mark. Yellen, who does not advocate a weak US dollar, is expected to become the key to boosting the rise of the US dollar index. On Tuesday, local time, the U.S. Senate will hold a hearing on Yellen’s nomination as Treasury secretary. If there is no surprise, the former Fed chairman is expected to become the first female Treasury secretary in American history. On January 17, Yellen’s speech has been released by the American media, saying that he will make it clear that the United States will not seek a weak dollar for its competitive advantage! It will reiterate its commitment to the market to determine the exchange rate. At the same time, she said that it is time to take "significant action" for the recovery in a lower interest rate environment. The US economy had growing inequality before the outbreak of the new crown epidemic.
Financial sources commented that Yellen's testimony indicated that the stance and measures she will take after taking office are expected to change the weak dollar policy that Trump has always advocated during his tenure. The famous financial blog Zero Hedge stated that the media was allowed to learn about the speech in advance and extensively discuss Yellen's views on the dollar, indicating that Yellen did not want her hearing to cause market turmoil. Yellen is also expected to respond to Biden’s claim that cheap borrowing costs are now a good opportunity to rejuvenate the economy through public spending, although under a series of stimuli, the US debt has far exceeded 100% relative to GDP. She is expected to say in the Senate that if Congress does not approve more aid, the United States may face a longer and more painful economic recession.
Gold fell rapidly in the early trading yesterday and fell to 1802, and the first-line stabilization rebounded. In the afternoon, the price did not continue the decline but ushered in a strong rise. It broke through the opening in the morning and accelerated to pierce the 1840-line shock and fall back. The 1830 mark continued to stabilize and closed, and the daily K-line closed at the bottom and rebounded from the small Yangxian entity. Yesterday, the price was supported below the 200-day moving average and stabilized and rebounded. Short-term resistance continued to run, and the overall rhythm was still in a shock; The Bollinger Band three-track opening moves downwards, MA5 moving average and MA10 moving average are moving downwards, K line is trading near the MA5 moving average between Bollinger middle and lower rails, MACD speed line is moving downwards near axis 0, the green kinetic energy is slightly reduced. The KDJ three-line dead fork closed and the daily gold fluctuated and was empty. On the 4-hour chart, the Bollinger Band three-tracks opened, MA5 moving average and MA10 moving average moved to Golden Cross, K-line trading below the Bollinger middle rail above the MA5 moving average, MACD fast or slow The golden cross below the line 0 axis eases up, and there is a certain rebound momentum in the short-term. On the whole, today's gold operation thinking Chen Shuao suggests rebounding and shorting mainly, and the callback is supplemented by longs. The top focuses on the 1855-1860 first-line resistance, the bottom In the short term, focus on the first-line support of 1835-1832
Analysis of spot white banking situation:
Looking at the silver daily chart, the price of silver ended its previous rise from the high of 29.86 on August 7th, and thus began to turn into a downward adjustment wave. At present, the fall of C wave is expected to end at 21.88, and it is likely to start a new one at 21.88. The round master Shenglang. Looking at the 1-hour chart, silver started to fall at 27.92, and international silver prices hit a low of 24.10 again. The short-term structural decline may end here. The probability of a short-term silver trend rebounding upward is relatively high. Chen Shuao suggests short-term bargaining. To be long in silver, consider going long at 24.75-24.80 today, with a risk control point of 24.60 and a target of 25.20-25.60
Futures crude oil market analysis:
According to reports, the US federal government plans to sell approximately 20 million barrels of crude oil from the US Strategic Petroleum Reserve, which will be delivered as early as April and will continue until the end of 2021. According to data from the U.S. Energy Information Administration (EIA), as of January 8, the U.S. Strategic Petroleum Reserve was 638.1 million barrels. Since the peak of 726 million barrels in early 2010, the U.S. Strategic Petroleum Reserve has been slowly declining. But for most of the past decade, due to the rise of the US shale boom, US commercial oil reserves have also grown.
The US Department of Energy stated that the sale of more than 10 million barrels of crude oil will be implemented gradually during 2021-which is authorized by the US Congress-if not earlier, deliveries are expected to begin in May. The US Department of Energy stated that the US has confidence in the long-term health of the global crude oil market. In addition, approximately 10 million barrels of crude oil can be sold, with a view to raising as much as $450 million to fund the infrastructure modernization program of the US Strategic Petroleum Reserve.
Crude oil daily level, MACD red column shortened, KDJ dead cross, K line fell below the 5-day moving average, hovering near the 10-day moving average. If it falls below the 10-day moving average, the short-term moving average will form a dead cross, increasing the risk of further short-term bearishness. However, the current bullish gains are still strong. From a medium to long-term perspective, the bullish trend of oil prices remains unchanged, and the short-term may fall into consolidation or a certain degree of correction. Therefore, the previous wave of gains has accumulated a large number of profitable orders, which has also become a resistance to further increases in oil prices. . Operation is still based on the idea of long bargaining, and conservatives can temporarily exit. The initial resistance above focuses on the 5-day moving average of 52.65, and further attention to the January 13 high of 53.93. The initial support below focuses on the 52 mark, and further support focuses on the 51 mark and the high of 50.2 on January 5. On the whole, Chen Shuao suggested that the short-term operation of the day should be based on the callback low-bulk, supplemented by the rebound and short. The top short-term focus on the 53-53.3 first-line resistance, and the bottom short-term focus on the 51-51.5 first-line support