【XAUUSD】
The Central Bank of Russia issued an announcement to buy gold according to the price market of the London Bullion Market Association. Because of geopolitical relations, there will have a certain buying power support.
The question at this stage is whether the expansion of the war will evolve from Ukraine and Russia to World War III or the first nuclear war. During this period, it is quite normal that there will be continuous demand for gold.
In terms of technical lines, the current price of gold comes to about $1900 per ounce. Alligator shows a golden cross and that indicates that gold has remained high-end for a long time. The KD shows a death cross because the price fell below $2,000 per ounce. The price of gold is very high at this stage because many people want to make a profit on the high. The price shows difficulty in going down because there are traders looking to take advantage of the low.
XAUUSD – D1
Resistance point 1: 1920.00 / Resistance point 2: 1980.00 / Resistance point 3: 2000.00
Support point 1: 1900.00 / support point 2: 1880.00 / support point 3: 1850.00
【USOIL】
At the end of the weekend, a very large number of countries began to impose economic sanctions on Russia. There was the ban on the use of the SWIFT banking system by banks in the Russian and that most countries actually do not want Russia's oil exports to be excessively affected. It can be seen that these Western countries have their hands tied hands because the hyperinflation problem caused by oil could be a big obstacle for these countries. However, the sanctions against Russia are still required based on public opinion.
However, the recent price of crude oil still stands around $98 per barrel. It sometimes runs above $100 per barrel, showing that investors still have a certain degree of fear of the expectation of crude oil. According to the Paris-based EIA Energy Information Agency, 40 million barrels of war-ready crude oil are to be released in the hope to curb crude oil prices to some extent.
In terms of technical line, the price of crude oil at this stage has not broken in the long-term high. This results in a golden cross for Allligator. As the opening is quite large, it will be difficult to make this golden cross reverse in a short period of time. In the long run, the price of crude oil is still high and the short-term line of KD will be more important to look at. The current KD has also turned into a golden cross, it seems that there may be wave of changes in the short term.
USOIL – D1
Resistance point 1: 97.800 / Resistance point 2: 98.500 / Resistance point 3: 100.000
Support point 1: 96.200 / support point 2: 95.500 / support point 3: 93.800
【Dow Jones Index USA30】
The Dow Jones index fell sharply at the opening of the market yesterday mainly because of the war between Ukraine and Russia. Also, some of the financial sanctions triggered may only lead to uncertainties. Last night's peace talks between Ukraine and Russia were held in Belarus and although this closed-door meeting did not seem to have an immediate result, there seems to be some consensus. Both sides expect to hold a second negotiation on March 2.
With the peace talks looking like it is going in a good direction, the Dow Jones index converged and fell lesser by only 160 points.
In terms of technical lines, the Alligator death crossover shows a KD high-end passivation. After the Dow Jones index rebounded from the bottom, it began to enter a pattern to wait for more clear information. The recent sanctions are bound to lead to uncertainties.
USA30 –D1
Resistance point 1: 34500 / Resistance point 2: 34800 / Resistance point 3: 35200
Support point 1: 33500 / support point 2: 32800 / support point 3: 32200
【BITCOIN】
The Ukrainian government has solicited cryptocurrency donations in the form of Twitter and it raised more than $10 million worth of cryptocurrencies in about 24 hours. There is more than $17.2 million in bitcoin has poured into Ukraine.
Bitcoin has their price pulled up by 15% and rose from $39,000 per coin all the way to $44,000 per coin.
From the technical line view, Bitcoin's moving average is actually entangled. This is because in the previous period, Bitcoin has been consolidating at the bottom. With a short-term pull-up, KD has turned to the high-end blunting area to indicate that the short-term buying force is very strong. It seems that the number and amount of people who have used Bitcoin to aid Ukraine is quite large.
BITCOIN – D1
Resistance point 1: 43500 / Resistance point 2: 43800 / Resistance point 3: 44500
Support point 1: 42800 / support point 2: 42200 / support point 3: 41800
OneProSpecial Analyst
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