Weekly

On January 26th

Today's range

Gold is still in turmoil, hitting new highs for the year while slowly moving from support at $1,900 to $1,920. Bull targets point to 2000, but there is still pressure above $1950 for the time being to try the high short position. Today's recommended range is $1,930-1,952.

Hong Kong stocks were closed for the Lunar New Year holiday.

Stocks rose and then fell on improved euro-zone economic data. German business sentiment showed a slight improvement in January compared with the previous month. European stock markets started the day on a positive footing, but they have not had a bigger catalyst to boost the economy since they regained their pre-war position and are now struggling to stay high. In addition, the European Central Bank members let loose the eagle, indicating that the next two rate hike meetings are appropriate to raise the policy of 0.5%, the three major European stock market turned down, Germany DAX index fell 0.06%; France's CAC index in Paris was down 0.18%, while Britain's FTSE 100 was down 0.09%.

The Nasdaq Composite index fell 0.18 percent as investors reacted to fears that the United States might directly intervene in the war with Russia and supply tanks to Ukraine, as well as the threat of a U.S. national security crisis. Microsoft's downbeat outlook and Universal Machine's plans to cut 3,900 jobs sent tech stocks down. The S&P 500 fell 0.02 percent, while the traditional Dow Jones Industrial average fell and then rose, before closing up 10 points, 0.03 percent, after falling nearly 460 points.

The gold market is still in turmoil, on the trend of New Year highs, while slowly moving up the support position. The dollar tried to rally yesterday, with bears taking advantage of the trend to lower the gold market. Gold briefly fell below $1920 and as low as $1919.9. After the European Central Bank's hawks and the Bank of Canada's interest rate hike, the dollar index fell near 101.6. It closed at $1,946.9, up $9.

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