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The main contract for the container shipping index (European route) rose more than 3.00% intraday, currently trading at 1834.7 points.On November 11, Politico reported that U.S. senators rejected an amendment proposed by Rand Paul that aimed to remove a clause he argued would "destroy the booming industrial hemp industry"—a clause included in the agreement to end the government shutdown. The amendment was rejected by a vote of 76 to 24. Only Texas Senator Ted Cruz and Paul himself, along with 22 Democratic senators, supported pushing the amendment forward. The clause severely restricted marijuana products with intoxicating effects that had been legalized since the passage of the 2018 Farm Bill. The Senates rejection of the amendment paves the way for Congress to finally pass an appropriations package, bringing Congress one step closer to ending the government shutdown. In an interview, Paul stated that he proposed the amendment not to "delay the process," but to protect the industrial hemp industry that has flourished in Kentucky since 2018.On Tuesday, November 11, the Hang Seng Index opened 99.03 points higher, or 0.37%, at 26,748.09; the Hang Seng Tech Index opened 46.46 points higher, or 0.79%, at 5,962.02; the H-share Index opened 41.47 points higher, or 0.44%, at 9,484.71; and the Red Chip Index opened 6.91 points higher, or 0.16%, at 4,274.62.Hong Kong stocks opened higher, with the Hang Seng Index up 0.37% and the Hang Seng Tech Index up 0.79%. New consumption, innovative drugs and gold stocks led the gains, with XPeng Motors (09868.HK) surging over 9%.Samsung Electronics shares rose up to 5% in South Korea.

Gold trading strategy on October 4: Trend line pressure test, gold price comes to a crossroads

Oct 26, 2021 10:57

On Monday (October 4), spot gold is almost stable. Short-term gold prices are facing the challenge of the trend line. The trend requires further wait and see. Investors are advised to wait and see.


Daily level: The price of gold rebounded sharply last Thursday, breaking through the 10-day moving average, and the downward trend was temporarily contained.

The short-term gold price tends to fluctuate sideways, and further trends still need to be wait-and-see. If the intraday rise breaks through the shackles of the downward trend line, the market outlook is expected to rise further.

However, if it closes down within the day, the price of gold will continue to be under pressure from the trend line, and the market outlook may continue to fall. Investors are advised to wait and see for the time being.

Above the resistance level, focus on the 20-day moving average of 1767.78, and further focus on the 50-day moving average of 1783.62 and the 200-day moving average of 1801.92.

Below the support level, focus on the low of 1750.79 on June 29, and further focus on the low of 1738.12 on September 23 and the low of 1721.76 on September 29.

(Spot gold daily chart)

Resistance levels: 1767.78; 1783.62; 1801.92
Support levels: 1750.79; 1738.12; 1721.76

Short-term operation advice: wait and see for now.

GMT+8 13:45, spot gold was quoted at US$1761.33 per ounce.