［Ｍｏｒｎｉｎｇ Ｓｅｓｓｉｏｎ］ Ｇｏｖｅｒｎｍｅｎｔ Ｓｈｕｔｄｏｗｎ Ｉｎｅｖｉｔａｂｌｅ Ｓａｆｅ－Ｈａｖｅｎ Ｄｅｍａｎｄ Ｄｒｉｖｅｓ Ｇｏｌｄ Ｐｒｉｃｅｓ

In terms of gold:

Overnight, gold saw a roller-coaster trend. It first underwent a relatively deep correction, then reclaimed all lost ground, reversing the short-term pattern once again.
According to the latest news, the bill proposed by the Republican Party to avoid a U.S. government shutdown failed to secure sufficient votes in the Senate. A U.S.

government shutdown has become a foregone conclusion, with over 400,000 employees from departments including the Department of Defense, Department of Education, Department of Health and Human Services, Department of Homeland Security, Department of Labor, Department of State, Department of Justice, and Department of Veterans Affairs set to be placed on furlough.

Peng Cheng, a market strategist at Zhisheng Research (exclusively invited by Plotio), opined that if a new debt ceiling is reached, it will mean the U.S. government can issue bonds without restraint. The scale of U.S. government debt will enter a phase of rapid growth, which also implies the Federal Reserve may have to accelerate the pace of interest rate cuts, and the U.S. Dollar Index will weaken sharply.

Technically: Gold closed with a doji star on the daily chart, yet bulls still hold the upper hand. On the 1-hour timeframe, gold first broke below the previous small trading range, then quickly reclaimed it, reversing the trend. It is highly likely to hit a new high during the day, and attention can be paid to the support level around the $3,842 mark below.

Gold Hourly Chart

In terms of crude oil:

Overnight, oil prices continued to decline, and the long-term downward structure is likely to expand. With the release of OPEC+'s new production increase plan, crude oil fundamentals may deteriorate.

OPEC+ countries continue to implement the previous production increase policy, and there are reports that the organization plans to raise production again in the near future. Earlier, Saudi Arabia cut the price of crude oil sold to Asia more than expected—this may indicate that OPEC+ places greater emphasis on market share. Under such circumstances, it may be difficult for the oil-producing bloc to make changes in production.

From the consumer side, as summer in the Northern Hemisphere comes to an end, gasoline consumption will further decrease. The manufacturing sectors of core consumer economies such as the United States also remain in a contraction range, which may make it difficult for subsequent crude oil demand to act as a price support factor. Supply and demand are in an awkward situation where supply rises while demand falls, and crude oil fundamentals may further deteriorate.

Technically: Crude oil has recorded three consecutive bearish candles on the daily chart, with the downward structure expanding. However, it is also approaching the previous low, which may form a certain level of support. On the 4-hour timeframe, a candlestick pattern indicating a halt to the decline has emerged, and the market is likely to be dominated by a rebound during the day. Attention can be paid to the resistance level around the $63.50 mark above.

原油小時圖

In terms of the Nikkei 225:

The Nikkei 225 has closed with consecutive bearish candles on the daily chart, and the price center of gravity has clearly begun to shift downward. On the 4-hour timeframe, it has broken below the support of the long-term moving average, and the short-term market is highly likely to continue declining. During the day, attention can be paid to the resistance level around the 44,960 mark above.

Important Disclaimer:

The above content and views are provided by Zhisheng, a third-party cooperative platform, for reference only and do not constitute any investment advice. Investors who trade based on this information shall bear their own risks.]
This article is from Plotio. Please indicate the source when reprinting.

In the event of any inconsistency between the English and Chinese versions, the Chinese version will prevail.