Gold comments on April 30, 2021

 ‼️ ️In yesterday session, gold precious metal had a strong decline to around 1755 then rebounded to around 1775, closing the day with a bearish candle at around 1772.  Although the force of decline last night was quite strong, but the price has not yet broken down to close below 1765 so the buying force with this precious metal is still there.  In my opinion we will buy short around this price range today and wait for the selling point to drop with the precious metal Gold.

 - Considering the shorter time frame H4, we were very correct to stand out with this precious metal yesterday when there was a strong downside candle in the 1755 zone and follow me this candle.  Not to say many things, so the gold support price zone is still around 1765-1770.  We can establish a short position here with a safe take profit around 1780. So at this zone we will wait for the next signal of the precious metal Gold.

 - The yellow metal signal is only valid in the first 2 sessions today, entering the US session, we should stand out of the market because today is the end of the weekly and monthly candles, so there is a possibility that there will be profit-taking forces of the market.  Note that this information can be made in the precious metals market.

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Dax Analysis by Money Life Research

 ℹ️ #DAX #ANALYSIS

After yesterday's false break above the side the DAX seems to still have some bullish strength, but it may still be early for it to break this side well, it may need to consolidate a bit more.  Regarding data, today we have the GDP Usa.

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Comment on Gold on 04/27/2021

 📕 Comment on Gold on 04/27/2021:

‼️ ️ End of session yesterday, gold precious metal had 1 day of increasing as expected from 1768 to 1783 ($ 15) closed the daily candle with a bullish candle again after 2 previous falling days.  .  With the falling gold did not break through the 1768 price zone yesterday and rebounded so in my opinion this momentum will be maintained in the beginning of today's session.

 - Considering the shorter time frame H4 we can see a short term resistance zone at 1785 but in my opinion the precious metal Gold will soon surpass this resistance to move to higher levels.  The safe target of this uptrend will be around 1790 and beyond being able to retest the "old peak" of 1795 in today's session.  The support zone pushed up precious metal price during the day is still around 1770-1775.

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Klse Close Market News

 KLCI breaks two-day gaining streak in cautious trade

KUALA LUMPUR (April 27): The FBM KLCI broke a two-day gaining streak to close lower in cautious trading today in line with the trend in most regional markets.

The benchmark index closed 16.79 points or 1.03% lower at 1,606.68.

Areca Capital Sdn Bhd CEO Danny Wong said the generally bearish sentiment was also seen in other regional markets, as cautious investors awaited the outcome of the upcoming US Federal Reserve meeting.

Gainers among KLCI constituents included Axiata Group Bhd (up 1.04% or four sen at RM3.87) and Kuala Lumpur Kepong Bhd (up 0.09% or two sen at RM21.80).

On the broader market, some 7.17 billion shares worth RM5 billion were traded. Losers outnumbered gainers 686 to 415 while 437 other counters closed unchanged.

The top actively traded stock was Focus Dynamics Group Bhd with 786.73 million shares traded, followed by Kanger International Bhd and Careplus Group Bhd. Top gainers were Teo Guan Lee Corp Bhd, Pecca Group Bhd and Malpac Holdings Bhd, while the top losers were Nestle (Malaysia) Bhd, Hartalega and Petronas Dagangan Bhd.

Asian stocks lacked direction today as a surge in virus cases in the region and the Federal Reserve’s meeting this week kept investors on the edge, Reuters reported.

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Comment on Gold on 04/26/2021

 closed with a doji candle.  This shows an indecision between buying and selling forces.  Maybe it's a signal of an upcoming reversal on the weekly chart time frame.

- Moving to the daily chart time frame, we can see that in the last trading sessions of last week, when the price moved back to the old high of 1795, the price could not pass even though the USD had a strong downward force.  .  So in my opinion this price zone will be the resistance where we can establish a sell down position on Gold this week when the bulls come here.

 - Considering on a shorter time frame of H4, we can establish a buy position at the neckline area from the candle of April 16, 2021 to the present to expect this precious metal to form a reversal pattern on the timeframe  time H4.  The safe target for this buying span is around 1785-1790.  Here we liquidate the order and watch for the sell signal.

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AUSTRALIAN DOLLAR WEEKLY FUNDAMENTAL FORECAST

 AUD/USD price action has drifted broadly sideways over the last month or so. The Australian Dollar looks like it has started to perk up a bit more recently, however, as Aussie bulls attempt to regain lost ground and capitalize on US Dollar weakness. 

This may follow an improving outlook for the Australian Dollar on account of the latest flash PMI data, which showed an acceleration in private sector growth to the strongest reading on record. Australia’s PMI report also noted that ongoing supply chain disruptions continued to exert upward pressure on inflation, adding that the data showed the “steepest increases in both input costs and selling charges since inception of the PMI survey.”

This brings to focus the upcoming release of Australian inflation data scheduled to cross market wires next Wednesday, 28 April at 01:30 GMT. According to the DailyFX Economic Calendar, the consensus forecast for headline inflation stands at 1.4% year-over-year, which would reflect a notable rise from 0.9% reported last. A better-than-expected inflation print likely stands to send AUD/USD price action snapping higher whereas a disappointing figure could spark a bearish reaction by the Australian Dollar.

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Comment on Gold April 23, 2021

‼️ ️ At the end of last trading session, gold precious metal had a decrease from 1797 to 1777 (20 $) after touching MA20 on W1 week time frame, closing yesterday session at 1783 price range.  Selling appeared at around 1797 but after reaching around 1777 the price started to appear further buying pressure on the weekly chart. The buying force is still supporting the uptrend.

 - Moving to a shorter time frame than H4, we can see that the last 3 H4 trees are all withdrawal candles after touching 1777, proving that in the short term, there has been a lot of buying power to support the coin  direction of increase.  So in my opinion in the beginning of today's session we can make a buy position on this precious metal here.  The safe target will be around 1795. Here we can make liquidity and watch for sell signal with this precious metal.

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Check out the news of the past 24 hours

  1️⃣ Yesterday's main news

 - US President Biden is ready to compromise on the infrastructure bill.

 The US government reportedly will consider regulating crypto assets.

 - The US State Department will begin updating travel alerts this week.

 - OPEC + is discussing scaling down next week's meeting.

 - Libya's crude oil production fell below 1 million barrels a day for the first time in months.

 2️⃣ Notable facts and economic data today, China will announce the rate listed on the one-year loan market until April 20.

 The Reserve Bank of Australia publishes the minutes of its April monetary policy meeting.

 Apple holds a new product launch conference on Wednesday morning.

 - NYMEX New York crude oil price for May term is affected by monthly changes.  The last transaction on the exchange will be completed at 1:30 am on April 21 and the last transaction on the e-commerce platform will be completed on April 21st. Pay attention to the expiration notice.  of the transaction location to control risk.  Also, the expiration time of some US oil contracts on some exchanges is usually a day earlier than the official NYMEX, so pay more attention.

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WEEKLY OVERVIEW ON Indices

 Indices

MARKET VIEW

Weekly changes: SPX500 +1.64%

The United States posted another string of solid data points this week. Inflation, retail sales, and weekly jobs data all posted positive surprises. The United States Consumer Price Index inflation reading jumped to 9.1 per cent, marking the sharpest increase in nine years.

A bump to U.S. Retail Sales figures also complemented the strong CPI numbers, which showed a massive 9.8 per cent monthly increase. Weekly jobless claims also fell by nearly 200,000 from the previous week to a new pandemic low. The overall market reaction saw stocks surge and bond yields fall, although the U.S. dollar failed to follow through and remained under pressure.

KEY POINTS

Technology has been the top-performing SPX500 sector, while the extensive tech-related growth stocks such as Amazon Inc, Tesla Inc and Alphabet Inc have also charged higher. Technology stocks were outpaced by shares of banks, energy companies, and other economically sensitive sectors that have surged since breakthroughs in COVID-19 vaccines.

The earnings season will continue this week which impacts the global stock market. Some of the companies that will publish their results today are IBM, Coca-Cola, United Airlines, Steel Dynamics, and Prologis. Analysts expect that most of these firms will either report strong sales or boost their forward guidance because of the overall economic recovery.

Most traders are still bullish this year with the stimulus. The Fed is committed to being dovish with the economy reopening due to vaccinations and overall corporate earnings rising.

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Comment on Gold April 20, 2021

 ‼️  At the end of yesterday's session, the world gold price had a 1-day decline from 1790 to 1766 ($ 24), closing the day with a bearish candle after strong gains.  This is also the necessary downward momentum for this precious metal to go to higher price ranges and in my opinion, after dropping its correction to 1766 last night, there are supportive forces to  pushing up this precious metal price during the day.

- After hitting the strong resistance zone at 1790, gold price had corrections and in my opinion this is a downside to turn up because on the weekly chart, the trend is still in favor of buying, in addition to the continuous strong downward momentum.  of the USD index, this also supports the uptrend of Gold.

 - Considering on a shorter time frame than H4, the precious metal currently tends to decrease to around the old support zone of 1758-1763.  In my opinion, this is the support zone to push up the price of gold precious metal during the day.  Here we can establish a buy position on Gold precious metal with a safe profit-taking target around 1770-1775 at the beginning of today's session.

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Comment on Gold on April 19

  ‼️ ️ At the end of last trading week, gold precious metal had strong growth rate from 1722 to 1785 (63 $) to close the week at 1776 price zone. With strong increase of gold precious metal in 2  At the end of the week, the resistance area over the past month at 1755 was officially broken, turning this price area into the support price zone of precious metals in this week's session.

- Still considering the weekly chart (W1), at present, the precious metal Gold is facing a fairly strong resistance zone around 1785-1795 and in order to go up to the above high price range in my opinion, it is possible.  Gold will have to have a slight correction to around the threshold it broke last week around 1755 to be able to rebound.

 - In the beginning of the session today we think we can sell short around the 1785 price range. The safe target is 1762 and expect Gold to reach the 1745-1755 price zone.  Here we will consider buying this precious metal.

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Comment on Gold on April 16, 2021

 ‼️ ️ End of trading yesterday, precious metal Gold had a strong rebound when from 1734 to 1769 ($ 35) broke the resistance zone of 1755 and closed the daily candle beyond this price zone at 1763. With the close  Yesterday candlestick broke through today's cumulative resistance, in my opinion this uptrend will continue in the early part of today's session.

- Considering on the daily chart time frame, we can see that the uptrend of Gold is tending to move up to the next resistance zone of 1778-1782.  If in this Asian session, gold precious metal does not tend to correct, but goes straight to the above price range, it is likely that there will be a correction to gold at the 1778-1782 price range in my opinion here.

 - Case 2 if Gold declines and corrects to 1750-1755 in the beginning of today's session, we can establish a buy position around this level with the target of 1778-1782.  After the gold precious metal touches this price zone, we should consider a sell signal here.

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Gold Overview by Money Life Research

  ‼️ ️ End of session yesterday, gold precious metal went as expected when it declined from 1749 to 1732 ($ 17) closed the daily candle around 1734. Down force almost occupied the previous uptrend.  and once again retest MA20 on daily chart timeframe.  As I have analyzed it recently, the daily candle is also moving sideways to accumulate, we will easily be fooled if we look at its bullish force.  In my opinion, when the world gold price stood below 1760, I still maintain the view of selling down with this precious metal.

- In addition, the negative signal of the USD in the last 3 weeks has not been good, but the world gold price (XAUUSD) is still almost stationary without a strong rally, thus confirming the view.  this is more mine.  So in today's session we will continue to wait for sale of this precious metal around the threshold of 1740-1746.  The target is around 1732 and expect it to be 172x in today's session.

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Today Overview on Gold by Money Life Research

  ‼️ ️In the trading session yesterday, after the precious metal Gold decreased from 1736 to 1723 ($ 13), there was a sharp increase to the 1748 price range in the US session right after that.  Closing the daily candle with a bullish candle around the 1743 price range. As you can see, after rising and falling, the price of Gold is still moving sideways in the 1725-1755 area without any significant breakout.  So we can trade within this price range.

- Considering D1's daily chart timeframe, the support around MA20 on the daily time frame had a downward trend, but at the close, the price still stood firm and maintained above this MA20.  As for the resistance zone, around the price zone 1746-1755 is the upper resistance level of the precious metal Gold that it has accumulated many days.  If the volatility moves up and down, the sideways range remains the same and in my personal opinion we continue to sell down around this resistance zone down to the aforementioned support.

 - Switching to a shorter time frame of H4, currently gold precious metal is having a slight resistance zone around 1746 and if in the next candle, H4, the candlestick force continues to rise and surpasses 1748.  Last night, there was a possibility that it would retest the 1755-1758 zone.  Here we can establish a short position on the Gold precious metal in the short term.

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Weekly Overview on Glod

 Gold

MARKET VIEW

Weekly changes: XAUUSD +1.06%

The price of gold rallied towards the 1,758 USD this week, marking the highest trading level for the yellow metal in about five weeks. Weakness in the U.S. dollar and the promise of continued quantitative easing from the Federal Reserve helped propel gold higher this week.

Gold has suffered its worst start to the year in over a decade and has been in a protracted downtrend since falling below its 200-day moving average in February. From a seasonal perspective, the month of April is not a strong one for gold. However, the promise of more quantitative easing and low rates in the United States helps drive the recovery so far this month.

KEY POINTS

India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers.

Important levels: 1,715, 1,727, 1,745, and 1,759 USD.

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Top Forex News by Money Life Research

 1️⃣ The main news over the weekend

 - Biden seeks to increase its budget for fiscal year 2022 to 8.4%.

 Biden will form a committee to study controversial topics such as the expanding Supreme Court.

 - Powell: The US economy is at an inflection point.

 - Saudi Aramco will sell a 49% stake in its oil pipeline, worth $ 12.4 billion.

 2️⃣ Notable facts and data this week

 More Fed officials, including Powell, are set to hit this week:

 - At Monday morning, Powell attends a news program and will speak at the Economic Club of Washington on Wednesday.

 From Wednesday to Friday morning, many officials, including Fed Vice Chairman Clarida, will deliver speeches.

 Economic data and reports for the US market should be focused on:

 At Tuesday, the US seasonally adjusted March CPI was announced and the market expected it to be at 0.5%.  If the CPI figure exceeds expectations, it could once again make people worry about uncontrollable inflation.

 - The rate of monthly US retail sales for March is announced on Thursday 5. Some analysts predict that March data will rise again.

 On Tuesday and Wednesday, OPEC and IEA will publish two main oil reports.

 As for other data, the Reserve Bank of New Zealand announced its rate decision on Wednesday.  China's first-quarter GDP rate every year is announced at on Friday, and the market is expected to grow 18.20%. 

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Top Forex Market News by Money Life Research

 1️⃣ Series about American - Chinese Straight:

 "The US Commerce Department said Thursday that it has added seven Chinese supercomputer entities to the US economic blacklist for supporting China's military efforts."

 2️⃣ Fed President - J. Powell's speech at the IMF Conference at tonight:

 - "Federal Reserve Chairman Jerome Powell said on Thursday that an increase in spending as the US economy reopens, coupled with supply bottlenecks, is likely to push prices higher in this year, but will not lead to price increases year after year constituting inflation.

 - "We think there will be bullish pressure that can be passed on to consumers in the form of price increases - we think that is only temporary," said Powell at an International Monetary Fund event,  Note that inflation has been at a 25-year low, nurturing a sentiment of low inflation expectations.

 - “If inflation is sudden, contrary to our expectation, the move means above the level we are comfortable with - and especially inflation expectations ... if we see them moving continuous and essential on the level we are comfortable with, we will react to that. "

  => There are 2 main ideas: Price may rise but does not mean inflation, and as long as we see inflation above the 2% target and there is real pressure, we will see Fed action, otherwise, the interest rate will remain low Zero.

 3️⃣ Notable facts and economic data today

 - Tonight the US announced the PPI producer price index and Canada will announce the employment index in March.

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Today KLSE Market Open Positive

 Bursa opens easier but rebounds thereafter-

KUALA LUMPUR (April 8): Bursa Malaysia opened easier but rebounded thereafter today, attempting to extend yesterday’s gains, despite the flat overnight performance on Wall Street.

The US stock markets staged a modest recovery after the US Federal Reserve signals no changes to the current bond-buying program.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.02 points to 1,602.61 from Wednesday’s close of 1,600.59.

The index opened 0.78 of-a-point easier at 1,599.81.

“We believe the foreign buying support yesterday may continue to lift FBM KLCI members in the near term. Given the higher oil prices resulting from the recovery of global economy, coupled with the smooth ongoing COVID-19 vaccination, it should bring some optimism to the market.

“The key index may have a positive bias moves over the near term with the resistance envisaged along 1,615 to 1,635, while the support level is set at 1,565 to 1,575.

It added that sector-focus traders will still look out for the recovery-theme sector such as consumer, aviation, tourism, construction and property on the back of the ongoing vaccination plan on the local front.

Of the heavyweights, Public Bank gained three sen to RM4.25,  Petronas Chemicals added four sen to RM7.99,  while Maybank fell eight sen to RM8.40, Tenaga shed two sen to RM10.24, and IHH Healthcare was flat at RM5.31.

Among the active counters, Luster Industries and its warrant added one sen each to 24.5 sen and 14.5 sen, respectively, DGB Asia and Pasukhas Group edged up half- a-sen each to 6.5 sen and three sen, respectively, while Permaju was flat at 22 sen.

Sector-wise, the Industrial Products and Services Index edged up 0.24 of-a-point to 195.12, the Financial Services Index slipped 15.5 points to 15,363.71, while the Plantation Index went down 17.48 points to 7,060.43.

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Comment on Gold on April 7, 2021

 ‼️ ️ End of trading yesterday, precious metal Gold had 1 day of increasing from 1727 to 1745 ($ 18) closing the day with bullish candle at 1742. As we can see around 1745-1755 price zone is the price zone.  old resistance was quite strong before.  So in my personal opinion, around this price level, I am still inclined to the downward trend of gold precious metal.

Although the buying force of this precious metal on the daily chart is still available, in my opinion, for a sustained uptrend there is still a need for a downward correction, and in my opinion, in the beginning of today's session, it is.  You can set a sell-down position.  Safe target we could maintain around 1730 and beyond 1725 in today's trading session.

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Weekly Overview on Crude OIL

 MARKET VIEW

Weekly changes: XBRUSD -0.11%

The price of XBRUSD moved above the 63.00 USD level this week after OPEC members agreed to start increasing oil output over the next few months gradually. OPEC ministers had decided to hold production back by around 8 million barrels per day over recent months due to fears about oversupply and lack of consumption globally.

The news that OPEC would attempt to increase oil output by around 350,000 barrels per day over the coming months was seen as a bullish bet on the global economy. As the vaccine rollout continues, oil demand would increase as developed economies and travels go back to normality.

KEY POINTS

Oil demand boosted by the highest number of flights since COVID started. Rising numbers of air travellers could help global aviation fuel demand, which the pandemic has hit the hardest with international flight restrictions and quarantines.

Saudi Arabia raised prices for oil shipments to customers in its primary market of Asia, signalling the kingdom's confidence in the region's economic recovery.

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Comment on Gold on April 5 by Money Life Research

 ‼️  Ending last week's session, gold precious metal closed the week with a very strong candlestick that covered all strong selling force at the beginning of last week. Along with that on the timeframe of the gold precious metals date chart, it has bounced up very strongly on the last 2 days of the week so in my opinion it is highly likely that this rally will continue this week.

Considering on the H4 timeframe, we see that the precious metal Gold is about to hit the short-term trendline channel from March 18, 21 onwards as well as the resistance at 1730-1734, so I expect the price. Gold is likely to be adjusted after 2 days of the last weekend, increasing sharply. The first possibility that precious metals will recover around the 1718-1720 price range, but my expectation Gold can retrace further could be 1710. Around this price range is the ideal price range for us to establish a state buying with gold precious metal with a target of 174x over the next few days.

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Comment on Gold on April 1, 2021

In the new month, everyone with a drawdown monthly candle closed above the monthly chart, along with that on the daily chart time frame, after falling sharply to 1678, this precious metal formed the 2 patterns. the bottom then goes up. The session closed yesterday with a fairly strong bullish candle that took up most of the downward pressure of yesterday's candle. So my personal opinion about precious metals is more and more affirmed as in today's 2 that we will continue to buy when prices return to the low range in the coming short term.

Considering the short-term frame rather than H4, we can see a very strong increase. If in this Asian session, gold price remains above 1705, it is likely that the price will go up without much correction, but if the price can adjust further to the 1696-1700 zone, this is the ideal price range for them. We increase the Buy status. The next goal this precious metal needs to conquer is the price range of 1720-1725 in today's session.

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