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10.17 Gold surges, crude oil plummets, latest market trend analysis and today’s exclusive operation suggestions
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Review]: 10.17 gold surge, crude oil plunge, latest market trend analysis and today's exclusive operation suggestions." Hope this helps you! The original content is as follows:
Investing is like fighting a battle. You must make a good strategy before the battle begins. Not only how to expand your advantage when you have an advantage on the battlefield and pursue the victory, but also what to do if you lose, how to preserve your strength, and then make a plan and fight again after retreating. Regardless of war or investment, not every fight against the odds leads to victory. In history, there have only been a few victories against the odds. This is just like the investment market, where the trend has gone out in the opposite direction, but you still have the extravagance to follow your own wishes. Friends who have such a mentality must be aware that if this problem is not corrected, they will be submerged in the investment market. Predict in advance, be one step ahead, seize the opportunity, take advantage of the trend, strictly control risks, grasp it easily, and invest happily.
Analysis of the latest gold market trends:
Analysis of gold news: During the U.S. trading session on Thursday (October 16), gold and silver prices rose sharply overnight and reached historical peaks. Gold's recent rise is rooted in the implicit shift in U.S. fiscal policy, a factor that is gradually becoming the center of the market narrative. Participants are keenly aware that the authorities' spending guidance is deviating from the traditional prudential framework, which indirectly strengthens expectations for a strategic depreciation of the US dollar. The last time such a policy signal was released was in the mid-to-late 1980s. At that time, the U.S. dollar index fell by nearly 30%, but unexpectedly drove the S&P 500 index to rise by more than 55%. Today, the www.xmmen.combined rise of gold and equity assets is the reappearance of this "unsolved mystery": the hidden intention of fiscal expansion points to a looser liquidity environment, thereby amplifying the allocation attractiveness of precious metals.
Gold technical analysis: Looking at the technical golden hourly line, overnight closingAt its all-time peak, gold bulls remain firmly in control, with gold continuing its record-breaking rally without any signs of fatigue. Gold prices are www.xmmen.comfortably above its short- and long-term moving averages, reflecting strong underlying momentum and continued buying interest. Yesterday’s lowest was around $4,200, an area that coincides with the 21-period simple moving average on the 4-hour chart. In the short term, a deeper pullback towards the 50-period simple moving average near $4,065 looks unlikely, as momentum and trend strength continue to favor dip buying activity. Yesterday, the cycle continued to rise directly. In the afternoon, it was under pressure at 4242, and then fell sharply. This trend resistance line was still the one that was under pressure at 4218 in the European market yesterday, and then closed at 14 o'clock with a strong negative, reaching the 4210 target; because it was a strong negative, and not a long lower shadow K, yesterday's continuous positive dip at the end of the day washed the market up, and set a new historical high; today we need to be cautious, on the one hand, the 4380 line is the channel back pressure point , on the other hand, it moves towards the end of the ascending convergence triangle, leaving little room for it to run, and the market may change at any time; therefore, the support is still focused on 4340. Only if it effectively falls below it, then there will be a slightly greater probability of short-term adjustment. On the whole, today's short-term operation of gold, He Bosheng recommends to focus on callbacks and longs, supplemented by rebounds from high altitudes. The top short-term focus will be on the 4380-4400 first-line resistance, and the bottom short-term focus will be on the 4340-4320 first-line support.
Analysis of the latest crude oil market trend:
Crude oil news analysis: U.S. crude oil rebounded slightly during the Asian session on Thursday but is still in a downward trend, trading around US$58.30 per barrel. The market as a whole remains volatile and weak, and investors' concerns about global oversupply still dominate the trend. According to market surveys, the IEA predicts that global crude oil supply and demand will experience a surplus of 4 million barrels per day in 2026, the highest level in history, which will put significant pressure on the market. From a fundamental and technical perspective, WTI crude oil is still under double pressure from oversupply and high inventories. In the short term, if demand from Asian countries and the United States recovers sluggishly, oil prices may continue to be under pressure; in the medium term, attention should be paid to whether OPEC+'s follow-up meetings can introduce stronger supply adjustment measures.
Crude oil technical analysis: From the daily chart level of crude oil, oil prices have fallen below the lower edge of the range, and the objective trend is downward in the medium term. Oil prices fell sharply in a single day, and the subjective and objective trend directions have been downward. The MACD indicator fast and slow line opens downward below the zero axis, indicating that short kinetic energy has the upper hand. The medium-term trend of crude oil is expected to be volatile and downward. The short-term trend of crude oil (1H) fluctuated and fell to a new low, hitting 57.30. The moving average system diverges downward and suppresses oil prices, and the short-term objective trend is downward. Oil prices rebounded from the bottom in early trading and are relatively weak in terms of strength. The MACD indicator is running below the zero axis. The short momentum still has the upper hand. It is expected that the trend of crude oil will mainly fluctuate and fall during the day. www.xmmen.comprehensiveIn terms of crude oil operation today, He Bosheng recommends rebounding mainly from high altitudes, supplemented by falling back to lows. The top short-term focus is on the 59.0-60.0 first-line resistance, and the bottom short-term focus is on the 56.0-55.0 first-line support.
This article is exclusively planned by He Bosheng, a gold and crude oil analyst. Due to the delay of network push, the above content is personal advice. Due to the timeliness of online publishing, the suggestions in this article are for learning reference only. You should operate at your own risk. Regardless of whether the views and strategies of the article agree with others, you can www.xmmen.come to me to discuss and learn together! Nothing is difficult in the world, as long as there are people who are willing. Investment itself carries risks. I remind everyone to look for authoritative platforms and powerful teachers. Fund safety www.xmmen.comes first, secondly consider operational risks, and finally how to make profits.
The above content is all about "[XM Foreign Exchange Market www.xmmen.commentary]: 10.17 Gold surge, crude oil plunge, latest market trend analysis and today's exclusive operation suggestions". It is carefully www.xmmen.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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