MHMarkets:March 22, 2023-MHM European Perspective
Spot gold oscillated narrowly during the Asian and European sessions on Wednesday (March 22) and is currently trading near $1,940 per ounce. With the market cooling down on banking concerns in Europe and the United States, U.S. bond yields have rebounded sharply for two consecutive trading days, making gold less attractive. The market expects the Fed to raise interest rates by 25 basis points in all probability, but further movement in gold prices depends on all Powell's statements and wording.
U.S. crude oil is shaking slightly lower, and is currently trading near $69.10 per barrel. API data showed that U.S. crude oil inventories unexpectedly increased last week, indicating that fuel demand may be weakening, putting pressure on oil prices; and oil prices face resistance pressure at the bottom of the previous oscillation range.
Traders and analysts will be watching data released by the U.S. Energy Information Administration (EIA) on Wednesday to see if it confirms signs of weaker crude demand.
However, OPEC+ officials, hedge fund managers and oil market participants called the recent drop in oil prices speculative and insisted that increased demand will push prices to higher levels in the coming months.
Market concerns about the banking crisis in Europe and the U.S. have eased, and oil prices have eased their downward pressure after a two-day rally.
The focus of this trading day is on the EIA crude oil inventory series and the Federal Reserve interest rate resolution.
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 March 22, 2023, Beijing time.
Intraday Oscillation Range: 1929-1937-1951-1978-1985-1998
Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016
In the subsequent period of spot gold, 1929-1937-1951-1978-1985-1998 can be operated as the bull and bear range; High throw low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on March 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 21.5-22.3-23.1-23.9
Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1
In the subsequent period of spot silver,21.5-22.3-23.1-23.9 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on March 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3
Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3
In the subsequent period of US crude oil, 64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on March 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950
Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303
In the subsequent period of EURUSD, 1.0570-1.0690-1.0755-1.0830-1.0950 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on March 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470
Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550
In the subsequent period of GBPUSD, 1.2030-1.2135-1.2250-1.2375-1.2400-1.2470 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on March 22. This policy is a daytime policy. Please pay attention to the policy release time.
