10/13 Market report

 【Dow Jones】

The U.S. government will release key inflation data, the Consumer Price Index (CPI) for September, and investors will stay on the sidelines. Major indexes in the U.S. stock market are fluctuating today. Although they opened higher, they ended up with a small drop.

According to the minutes of the September meeting, the Fed's policy makers reiterated their firm commitment to returning inflation to the 2% target, and many officials stressed the need to maintain the policy path even if the labor market slows. However, participants said that as the monetary policy stance tightened further, it would be appropriate to slow down the pace of policy interest rate increases at some point while assessing the impact of cumulative policy adjustments.

In the daily technical indicators of the Dow Jones industrial average, Alligator shows a dead cross, indicating that the long-term direction of the Dow Jones industrial average is relatively empty, and the short-term KD indicator shows a dead cross, indicating that the rebound in the market has been under pressure and there is a possibility of a pullback in the near future.

USA30-D1:Downtrend

Price point: 31273

Current transactions:Hold empty orders with targets at 29200 and 29000

Alternatives:Set 32800 and 33200 after the price hit 31273

Comments:The RSI value of 38.3% was wide.

【Euro】

Eurostat said on the 12th that industrial production in the euro zone increased by 1.5% in August, higher than the market's forecast of a 0.6% monthly increase. Despite fears of a recession, industrial production plunged 2.3% in July, boosted by increased investment in manufacturing. Among them, the production of capital goods increased by 2.8% per month, reflecting an optimistic investment attitude of enterprises.

In the technical line of the euro zone's Japan line, the long-term Alligator forms a dead cross, indicating that the euro has fallen in the long run, and the short-term KD indicator is low-grade and passive, indicating that at the beginning of the current stage, the main driving force for the market is the empty side.

EURUSD-D1: Downtrend

Price point: 1.00000

Current transactions:Hold empty orders with targets at 0.96800 and 0.96500

Alternatives:Set 1.00200 and 1.00500 after the price hit 1.00000

Comments:The RSI value of 39.94% was off the mark.

【Gold】

The minutes of the September meeting released on Wednesday showed that Fed policymakers agreed that they needed to shift to a more restrictive policy stance and maintain that stance for some time to meet the Fed's inflation target. Gold strengthened, supported by lower yields on the dollar and US Treasuries.

In the technical line of gold's daily line, the long-term Alligator is tangled, indicating that there is no obvious trend in the long-term trend of gold. the short-term KD index is low-grade and passive, indicating that gold is beginning to face greater selling pressure, which may challenge the recent low point.

XAUUSD-D1:Uptrend

Price point: 1614

Current transactions:Hold multiple orders with targets at 1673.8 and 1674.2

Alternatives:Set 1612.5 and 1611.8 after the price hit 1614

Comments:The RSI value of 45.21% was wide.

【Crude Oil】

In response to growing economic concerns, the Organization of Petroleum Exporting Countries (OPEC) lowered its growth forecast for crude oil demand in 2022 and 2023, and crude oil futures prices fell accordingly.

Before OPEC revised its estimate of oil demand growth, OPEC and its allies (i.e. OPEC+) decided at last week's meeting to cut production by 2 million barrels per day starting in November, causing a sharp rebound in crude oil futures, angering the US government and straining relations between the US and Saudi Arabia. However, due to the fact that production in many producing countries has fallen below the target, the actual production reduction is expected to be only about 1 million b/d. Nevertheless, given the tight physical supply, the market still considers the reduction to be significant.

In the technical line of crude oil, the long-term Alligator is tangled, indicating that crude oil has begun to be chaotic in the long-term trend, and the short-term KD index is dead and crossed, indicating that the oil price is under pressure from the recent rebound, and the space for the short-term pullback is increased.

USOIL-D1:Uptrend

Price point: 76.52

Current transactions:Hold multiple orders with targets at 88.20 and 89.50

Alternatives:Set 75.2 and 75.8 after the price hit 76.52

Comments:The RSI value of 51.25% was too high.

OnePro Special Analyst

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