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Senior Analyst Peng Cheng
2024-11-07 16:45:00

Trump returned to the White House and gold plummeted

Gold: The U.S. election, which has been watched around the world, has finally come to an end, and Trump has returned to the White House by a landslide, and the uncertainty factors that the market has worried about in the early stage have also been reduced, and the market has become active again, which has affected gold plummeting. Trump's 2.0 policy will have a profound impact on the United States and the world, reducing the corporate income tax rate from the current 21% to 15%, which will reduce the burden on enterprises and increase corporate profits in the long run. Market funds are selling safe-haven assets in favor of risky assets in pursuit of higher yields. Trump's promise to impose tariffs on imports could have an adverse reaction, as importers would pass on the additional costs to consumers, meaning that inflation in the United States could rebound. This will also make the Fed hesitate to cut interest rates, which may be much smaller than the market expects, and tomorrow's Fed rate cut may be as little as 25 basis points. Technicals: Gold daily line closed the black line, pullback to the early shock area, if the area falls below, the downside space will be opened, is an important medium-term watershed. There is a possibility that the structure will be completed in 1 hour, and the probability of a short-term rebound is high, but it is advisable to follow the trend and pay attention to the pressure on the upper line of $2676.   Crude oil: Overnight, oil prices first fell and then rose, and the short-term fell sharply and then recovered, forming a short lure in the form, but also pointing out the direction for short-term operations. The arrival of a new US president has also added a lot of uncertainty to the energy market and even expanded the scope of energy sanctions. U.S. shale oil producers are expecting Trump to reduce regulation of crude oil production during his second term, which means more crude oil supply and thus lower prices. However, after the election results, Trump announced that more sanctions would be imposed on Iranian and Venezuelan crude oil, which instantly made the market nervous, which in turn led to a rapid rise in oil prices in the short term. However, the author believes that this may only be a short-term clutter, and the impact on the long-term trend of oil prices will be limited. Even if sanctions are imposed on oil-producing countries such as Iran and Venezuela, US shale oil production will make up for this shortfall, which currently accounts for about 22% of the global total, and if the regulation of fossil fuels is relaxed, US shale oil production may go to a higher level, which is also a political promise by Trump. Technical: The daily line of crude oil closes with a small white candle with a long lower shadow, and the bulls take the initiative. The 1-hour cycle first breaks downward, and then recovers, which can be regarded as a short inducement, and the short-term probability is likely to fluctuate upward. In the short term, you can pay attention to the support of the $71 line below.   [Important Statement: The above content and views are provided by the third-party cooperation platform Zhisheng, which is for reference only and does not constitute any investment advice. 】
Senior Analyst Ou Wen
2024-11-07 08:45:00

【Morning trading】The dust of the general election has settled, and gold hides its face and cries

Gold: When the dust settles on the U.S. election, some people are happy and some are worried, some people will lose the election, and the sharp rise in the dollar corresponds to the collapse of non-U.S. currencies. Yesterday (November 6) evening, gold and silver also joined the diving ranks, and jumped down at a very fast speed. Trump is likely to impose tariffs after taking office, and at the same time will try his best to drive away and prevent immigration, which will increase labor costs, thereby pushing up inflation, and the road to interest rate cuts may no longer be smooth, but Trump also hopes for low interest rates and a weak dollar, and will pay close attention to it in the future. During his election campaign, he said that the conflict between Russia and Ukraine would be stopped within 24 hours, and risk aversion has slowed down significantly, which is not conducive to the rise of gold. In the medium to long term, Trump is likely to implement fiscal stimulus, and the scale of US government debt will accelerate, which is good for gold. Technical: The monthly line of the golden week is a bullish trend, and the deep pullback in recent days has been carried out, and the short-term needs to pay attention to whether it can effectively stop the fall, and then consider going long after stabilizing.
Senior Analyst Peng Cheng
2024-11-06 16:45:00

The dust of the general election has settled, and the climax may be after the election

Gold: With the results of the U.S. presidential election, gold volatility has increased significantly, and the market has come out of the wait-and-see mood. Trump has successfully returned and won the presidency again, and the election seems to be settled, but some uncertainties still exist after the election, and we must not take it lightly. At present, Trump's total votes have reached 277, and it is a foregone conclusion that he will successfully defeat Harris and return to the White House. On the whole, the Republican Party has also gained the absolute upper hand, not only winning this presidential election, but also the Republican Party has won the Senate and also has the upper hand in the battle for the House of Representatives. The climax of this election is likely not to be in the election, but after the election, Trump previously said that he hoped to declare victory on the day the election is over, and the Harris team is also ready for Trump to unilaterally declare victory, and the state National Guard has also begun to act, and the climax may be after the election. Technicals: Gold daily closed doji, medium-term moving average support is effective, and the pattern is favorable to bulls. The 4-hour cycle broke downward, but there are signs of recovery, if it enters the early trading intensive area again, the mid-line rise may start from this, and you can pay attention to the $2730 line during the day, which is a short-term watershed.   Crude oil: Asian oil prices have turned around, and there may be a change in direction in the short term, and investors should pay attention to the change of rhythm. Crude oil fundamentals basically determine the upside of oil prices, and weak demand may drag oil prices in the medium to long term. Upfront geopolitical risks did provide some support for oil prices, but also faced a weaker outlook for crude oil fundamentals in 2025, said Peter, CME's global head of energy Keavey said the market is dealing with a balance of weak supply and overall demand, and investors are turning to the options market for hedging. Several investment banks believe that there will be an oversupply of international crude oil next year, and will lower the average price of WTI crude oil next year to $67 per barrel. OPEC+'s latest production cuts can also be seen as a response to oil prices in response to weak demand, but some non-OPEC countries have now increased their production capacity, such as Libya, which has resumed crude oil production and exports. And these countries' efforts to increase production are likely to offset OPEC+ efforts. Technical: Crude oil daily line small white line, but the upper pressure level is more obvious, the market has reacted. There is a stop K-line combination in the 4-hour period, and there is a top divergence, but the long-term moving average below cannot be ignored, and the short-term can consider rebounding and opening short, and the pressure on the upper $72.30 line can be considered.   [Important Statement: The above content and views are provided by the third-party cooperation platform Zhisheng, which is for reference only and does not constitute any investment advice. 】

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