Gold bullish, crude oil continued to rise!

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The essence of the trading market is a game, a game between people, a game between mentality, a game between large funds and small funds, a game between professional institutions and ordinary investors. It is the survival rule of the trading market to hold the strong and bully the weak. Big fish eat small fish, small fish eat shrimps, and shrimps eat green mud, If you want to survive in the trading market, you must become strong and keep high vigilance.

Gold hit its highest point in nearly a month yesterday, as a new batch of weak US economic data reinforced the view that the Federal Reserve may have to suspend interest rate hikes. New economic data shows that the US economy is cooling down, strengthening the expectation that the Federal Reserve will suspend interest rate hikes in September. Technically, gold continued to rise in the last trading day as expected, and the daily closing was slightly positive with the upper and lower shadows. The daily cycle still maintained a downward trend. The 1-hour chart shows an upward trend of turbulence. According to the trading rule of the one eye balance table, it is recommended to long near 1945, stop loss 1940, and target 1955-1965.

Oil prices rose yesterday. US government data showed that crude oil supply was tighter than expected, but concerns about the economies of major Asian countries limited the increase. According to the US Energy Information Administration (EIA), crude oil inventory fell 10.6 million barrels last week to 422.9 million barrels. Technically, crude oil continued to rise in the last trading day, and the daily closing slightly brought down the middle positive line of the shadow line, and the daily cycle continued to rise after adjustment. The 1-hour chart shows a choppy upward trend. According to the trading rule of the one eye balance table, it is recommended to go long near 81.20, with a stop loss of 80.70 and a target of 82.00-83.00.

Disclaimer: This article objectively and rationally makes a directional judgment on the future market trend. The operational suggestions in this article are only the author's personal views, and the author adheres to the trading principle of "valuing the trend rather than the price", so it is necessary to adjust the point in real time during the session. If there is demand, you can contact the author of this article. The content only represents the author's opinion, and does not constitute the basis for operation. Investors should be responsible for their own profits and losses, and all results generated are irrelevant to the author. (Completed at 20230831, 10:10 Beijing time)

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