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June 12: Inflation lingers with no end in sight, as gold and silver fly southeast.

Wesson
Wesson
06-12

Yesterday, the gold market opened early at 2311.4, initially showing a decline. The daily low reached 2297.3 before the market saw a strong surge, with the daily high touching 2320.1 before consolidating.

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Yesterday, the gold market opened at 2311.4. After an initial dip to a daily low of 2297.3, the market surged strongly, reaching a daily high of 2320.1 before settling and finally closing at 2316.6. The daily chart ended with a long-tailed hammer, indicating a technical need for further rebound today. However, weekly resistance is near. For 1996 and 2028, set stop loss at 2150. For positions at 2300 and 2300-2303 from the previous days, adjust stop loss to 2304. If today's market dips to 2309, go long with a stop loss at 2304. Target 2320, with further resistance expected around 2325-2327.

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Yesterday, the silver market opened at 29.818. After a slight rise to 29.871, it experienced a volatile decline, touching a daily low of 29.009 before bouncing back to close at 29.267. The daily chart ended with a long-tailed large bearish candle, suggesting that we should wait for data to guide today's market direction. For positions at 22.35, 22.5, and 24.45, adjust stop loss to 27. Today's market: short at 29.65, with a stop loss at 29.85. Target is 28.95 and 28.65.

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Yesterday, the Euro opened at 1.07649. After a slight rise to 1.07739, it sharply declined to a daily low of 1.07190, then consolidated and closed at 1.07401. The daily chart ended with a long-tailed large bearish candle. For today's market: short at 1.07650 with a stop loss at 1.07800. Target is 1.07300 and 1.07190, with a further drop to 1.07000 and 1.06800.

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Yesterday, the crude oil market opened at 78.19 and dipped to a daily low of 77.28 before sharply rising to a daily high of 78.44, then consolidating and closing at 78.2. The daily chart ended with a long-tailed morning star, indicating a technical need for further bullish action today. For positions at 77.3, adjust stop loss to 77.2. For today's market: long at 77.7 with a stop loss at 77.2. Target is 78.5, with further resistance expected around 79 and 79.5.

Yesterday, the Nasdaq opened at 19068.43, dipped to a daily low of 18956.71 before sharply rising to a daily high of 19224.02, then settled and closed at 19213.39. The daily chart ended with a long-tailed medium bullish candle. For today's market: long at 19100 with a stop loss at 19050. Target is 19225, with further resistance expected around 19275 and 19300-19330.

Fundamentally, the World Bank raised its 2024 global GDP growth forecast from 2.4% to 2.6%, and its U.S. growth forecast from 1.6% to 2.5%. This supported the U.S. dollar, pressuring gold, silver, and non-U.S. markets. Today's key data includes the U.S. May unadjusted CPI year-over-year and May seasonally adjusted CPI month-over-month at 20:30, with an expected rate of 3.4%. Later at 22:30, we'll see the EIA crude oil inventories for the week of June 7. Early tomorrow at 2:00, focus on the Federal Reserve's interest rate decision and summary of economic projections, followed at 2:30 by Fed Chair Powell's monetary policy press conference, with expectations of maintaining the current high rates.

Trading strategies: Gold: For 1996 and 2028, set stop loss at 2150. For positions at 2300 and 2300-2303 from previous days, adjust stop loss to 2304. If the market dips to 2309, go long with a stop loss at 2304. Target 2320, with further resistance around 2325-2327, prepare to short.

Silver: For positions at 22.35, 22.5, and 24.45, adjust stop loss to 27. Today's market: short at 29.65 with a stop loss at 29.85. Target is 28.95 and 28.65.

Euro: Today's market: short at 1.07650 with a stop loss at 1.07800. Target is 1.07300 and 1.07190, with a further drop to 1.07000 and 1.06800.

Crude Oil: For positions at 77.3, adjust stop loss to 77.2. Today's market: long at 77.7 with a stop loss at 77.2. Target is 78.5, with further resistance around 79 and 79.5.

Nasdaq: Today's market: long at 19100 with a stop loss at 19050. Target is 19225, with further resistance around 19275 and 19300-19330.

Yesterday 2300 and 2303 long.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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