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The Eurozones unadjusted trade balance for October was €18.4 billion, revised from €19.4 billion in the previous month.Germanys ZEW economic sentiment index for December was 45.8, below the expected 38.7 and the previous reading of 38.5.Germanys ZEW Economic Situation Index for December was -81, compared to a forecast of -80 and a previous reading of -78.7.December 16th - It is understood that the State Administration for Market Regulation is currently studying and formulating a list of "first-time violations without penalty" and "minor offenses exempt from penalty." How to accurately define "first-time violations" and "minor offenses"? Wang Qiuping, Director of the News and Publicity Department of the State Administration for Market Regulation, stated that the list sets rigid thresholds for "first-time violations without penalty" and "minor offenses exempt from penalty." A first-time violation refers to a business entity having no similar violation record within two years; a minor offense must simultaneously meet the hard conditions of minor consequences and timely rectification. This serves as both a red line and a road sign clearly defining the bottom line. Through list-based management, it provides both leeway for business entities and clear guidance for law enforcement personnel, with the goal of achieving unified standards and applying the same criteria consistently.The Eurozones seasonally adjusted trade balance for October and the German and Eurozones ZEW economic sentiment indices for December will be released in ten minutes.

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.