Mohicans markets：11.18-MHM European Perspective

Market Overview

On Wednesday, November 2, Beijing time, in the morning of Asian market, spot gold fluctuated in a narrow range. At present, around 1763.57 US dollars/ounce is traded. In the past week, more than one Federal Reserve officials made hawkish speeches, which suppressed the expectation of the Federal Reserve's policy shift, putting pressure on gold prices. In addition, the market worried that the Federal Reserve's terminal interest rate would be higher than the market's expectation, and the interest rate increase cycle might also be longer than the market's expectation. The expectation of short-term bullish US dollar has rebounded, which makes the gold price face the risk of further correction.

US crude oil hovered at a low level in nearly a month and a half, and the current trading volume is around 82.22. On the one hand, the market is increasingly worried about the Asian epidemic, and the market is worried that the epidemic will drag down the demand prospects. On the other hand, hawkish speeches made by several Fed officials this week helped the US dollar to stabilize and rebound, and also increased worries about economic recession. Concerns about cooling down in the geographical situation and other factors affected the continued weakness of oil prices, but still provided support for gold prices.

This trading day, we will pay attention to the US crude oil drilling data, the annual total Existing Home Sales in the US in October, the speeches of Boston Fed Chairman Collins and other officials, the speeches of European Central Bank President Lagarde and the related news of the geographical situation.

Mohicans Markets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 18, 2022 Beijing time.

Technical Analysis (Due to the abnormal CME data today, the position data only provides the order flow points of three symbols of gold, silver and oil)

Todays CME Group has not updated, so only marking key point according to order flow：

1812 Resistance level

1800-1803 Resistance zone, long target, near 200 day moving average, call option bet

1781-1785 Short-term key resistance area

1773 High resistance level

1766 The first support level, the boundary between long and short. Below this range, we can see the key support around 1755-1753

1747 Important support, break the position and be alert for further callback risk. Look at the 1735-1722 range

1722 Support position/1720-1730 first pullback target range

1712 Lifting point after CP data, key support

Note: The above strategy was updated at 15:00 on November 18. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group has not updated, so only marking key point according to order flow:

19.9-20 Important resistance

19.75 First resistance

19.55 Retracement the first support

19.4 Long-short boundary during the day, key support

19.1 Support level

Note: The above strategy was updated at 15:00 on November 18. This policy is a daytime policy. Please pay attention to the policy release time.

Todays CME Group has not updated, so only marking key point according to order flow:

84.9-85 Key resistance area

83.3-83.7 Strong resistance area

82.3 The first resistance level, Asian trading first focus on the resistance of this position

81.2-81.8 Weak double-bottom support, broken short target will look down near 78

80 Support level

Tip: WTI crude oil should pay attention to the impact of the month change, many traders have now switched to the January contract, and the points in the analysis are based on the January contract offer, which is quoted at about $0.3 lower than the December contract.

Note: The above strategy was updated at 15:00 on November 18. This policy is a daytime policy. Please pay attention to the policy release time.

Statement|Disclaimer

Disclaimer: The information contained in this material is for general advice only. It does not take into account your investment goals, financial situation or special needs. We have made every effort to ensure the accuracy of the information as of the date of publication. MHMarkets makes no warranties or representations about this material. The examples in this material are for illustration only. To the extent permitted by law, MHMarkets and its employees shall not be liable for any loss or damage arising in any way, including negligence, from any information provided or omitted from this material. The features of MHMarkets products, including applicable fees and charges, are outlined in the product disclosure statements available on the MHMarkets website. Derivatives can be risky and losses can exceed your initial payment. MHMarkets recommends that you seek independent advice.

Mohicans Markets, (Abbreviation: MHMarkets or MHM, Chinese name: Maihui), Australian Financial Services License No. 001296777.