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On October 23rd, Changhong Energy announced that its third-quarter revenue was 1.231 billion yuan, an increase of 18.33% year-on-year, and its net profit was 65.4743 million yuan, a year-on-year increase of 15.90%. For the first three quarters, its revenue was 3.249 billion yuan, a year-on-year increase of 21.73%, and its net profit was 177 million yuan, a year-on-year increase of 23.69%.According to the Financial Times, the British government has announced sanctions against Dubai-based oil trader Paramount Energy & Commodities DMCC, part of a series of actions targeting companies and individuals accused of supporting Russias gold, oil, and financial sectors. A total of 29 entities and individuals were added to the sanctions list, including several UAE companies. The British Foreign Secretary stated that these sanctions will "target those who support Putin by helping him mitigate the impact of existing sanctions on Russian gold and oil." According to media reports in March, Paramount Energy & Commodities SA, a Swiss company founded by veteran Dutch trader Niels Troost, has transferred its Russian oil trading operations to its Dubai subsidiary, Paramount DMCC.Slovak refiner Slovnaft: We need to analyze the impact of the new US sanctions on Rosneft Group on our business.Bank of America: The South African Reserve Bank is expected to cut interest rates in November, compared with previous expectations of keeping them unchanged.A central bank survey showed that the Chilean central banks benchmark interest rate is expected to be 4.3% in the next 12 months.

Gold trading strategy on October 14: the key to staying at the Qianba pass, but the fundamentals are still bearish

Oct 26, 2021 11:03

Spot gold fell slightly on Thursday (October 14). The short-term trend is still unclear. The fundamentals are bad and the bulls are strong. Investors are advised to wait and see for the time being.


Daily level: The price of gold ushered in a surge on Wednesday, only one step away from the 1800 mark.

Fundamentals are still unfavorable for the bulls. The minutes of the US September meeting once again affirmed the reduction in November, which will put greater pressure on gold prices as November approaches.

RSI shows that the price of gold is slightly overbought, but the bigger test lies in the stay of the 1800 line. If it fails to break through the 1800 mark, the price of gold is bound to fall under pressure.

Investors are advised to wait and see for the time being and wait for further clarification of the direction of operation.

The initial resistance above focuses on the 1800 psychological mark, and further attention is paid to the August 5 high of 1814.89 and the August 30 high of 1823.31.

The initial support below focuses on the 50% retracement level 1778.22, and further attention to the 38.2% retracement level 1764.93 and the 23.6% retracement level 1748.49.

(Spot gold daily chart)

Resistance levels: 1800.00; 1814.89; 1823.31
Support levels: 1778.22; 1764.93; 1748.49

Short-term operation advice: wait and see first.

GMT+8 14:03, spot gold was quoted at US$1,790.90 per ounce.