Market Overview
On Monday, January 30, spot gold fluctuated in a narrow range in Asia, and is currently trading at $1930/ounce. Last week, spot gold closed 0.1% higher, achieving the sixth consecutive week of rise, which is the longest consecutive rise since the gold price hit $2075.47 in the summer of 2020.But the question is, because analysts believe that profit taking is inevitable in the short term, can gold maintain its rise？
So far in 2023, the gold price has risen by more than 6%, making the best start since 2012. On January 26, the price of gold hit a 9-month high of $1949.06.
Sean Lusk, the co-director of Walsh Trading, said in an interview last Friday that with the release of important data, the market will take profits in the short term and the gold price will have a correction.
The most noteworthy event this week was the Federal Reserve's meeting on February 1, followed by the Federal Reserve Chairman Powell's press conference.
US oilwas trading near $80.32/barrel; The oil price closed flat to fall on Friday, as the signs of strong Russian oil supply offset the hopes of better-than-expected economic growth data in the United States, strong margins of refining of medium distillates and rapid recovery of Chinese demand;The European Union failed to reach an agreement on the price ceiling of Russian refined oil at the weekend, and the geopolitical situation still supported the oil price.
Focus on the news related to the geopolitical situation throughoutthe day.
Mohicans Markets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on January 30th, 2023, Beijing time.
Intraday Oscillation Range:1903-1911-1929-1937-1951
Overall Oscillation Range:1730-1756-1780-1801-1817-1833-1856-1883-1903-1911-1929-1937-1951-1977
In the subsequent period of spot gold,1903-1911-1929-1937-1951can be operated as the bull and bear range; High throw low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on January30. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:22.3-23.1-23.9-24.5-25.3
Overall Oscillation Range:20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1
In the subsequent period of spot silver,22.3-23.1-23.9-24.5-25.3can be operated as the bull and bear range; High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on January30. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:77.9-78.5-79.9-80.70-82.3-83.5
Overall Oscillation Range:70.1-71.2-72.3-73.1-73.8-75.1-77.3-78.5-79.9-80.7-82.3-83.5-85.3
In the subsequent period of US crude oil,77.9-78.5-79.9-80.70-82.3-83.5can be operated as the bull and bear range; High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on January30. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:1.0690-1.0755-1.0830-1.0950
Overall Oscillation Range:1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1060
In the subsequent period ofEURUSD,1.0690-1.0755-1.0830-1.0950can be operated as the bull and bear range; High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on January30. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range:1.2030-1.2135-1.2250-1.2375-1.2400-1.2470
Overall Oscillation Range:1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550
In the subsequent period of GBPUSD,1.2030-1.2135-1.2250-1.2375-1.2400-1.2470can be operated as the bull and bear range; High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on January30. This policy is a daytime policy. Please pay attention to the policy release time.
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