Yesterday's comprehensive review:

Due to the overall good performance of the U.S. economy and the expected increase in economic growth, Fed chairman Yellen joined hands with several colleagues to make hawkish remarks last week, and the probability of the Fed raising interest rates in December also soared. On Monday, federal funds rate futures showed that the probability of the Federal Reserve raising interest rates by 25 basis points in December once reached 100%.

On Monday (November 21), gold, which fell to a nine month low last week, had a short respite because the momentum of the US dollar singing all the way slowed down. The price of gold futures for December delivery on the New York Mercantile Exchange closed at US $1209.80/oz, up 0.1%, hitting a high of US $1217.80/oz. The price of silver futures for December delivery closed at US $16.521/oz, down 0.6%.

British Prime Minister Theresa May said on Monday that she understood the concerns of enterprises and was worried that Britain might encounter "cliff like" drastic changes after the formal brexit negotiations with the EU. She would deal with these concerns in the brexit negotiations. This had no immediate impact on the pound until the pound surged a full $0.01 in less than a minute after American investors entered the market during the London lunch break. Many banks began to believe that the pound has stabilized. For the UK's huge external deficit and most of the risks brought by the brexit referendum in June, the 20% decline recorded by the pound since December last year may be enough.

Crude oil futures prices closed at a three week high on Monday. Due to the decline of the US dollar and some progress made in the meeting of the technical committee of the organization of Petroleum Exporting Countries (OPEC), although the production reduction targets of various countries have not been clarified at the meeting, it has increased the probability of implementing the production restriction agreement at the Vienna meeting at the end of November, which has increased the confidence of crude oil bulls.

WTI futures for December delivery on the New York Mercantile Exchange rose $1.80, or 3.9%, to close at $47.79 a barrel, the highest closing price of spot contracts since October 28. After trading on Monday, December WTI futures will expire. WTI futures for January delivery rose $1.88, or 4.1%, to close at $48.24 a barrel. Brent crude oil futures for January delivery on the London Intercontinental Exchange rose $2.04, or 4.4%, to $48.90 a barrel.

New market outlook:

Europe and America (1-hour chart line)

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The trend of Europe and the United States rebounded slightly yesterday. Although the range is limited, it can also explain to a certain extent that the downward momentum is not large. The strength of the US dollar is suspended, non US currencies can breathe, and the possibility of maintaining shock upward in the short term is increased. The operation idea can be changed to focus on rebound, with empty single focusing on the pressure position near 1.0733 and multi single focusing on the support position near 1.0571.

2. Pound us (1-hour chart line)

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The pound and the United States rebounded sharply yesterday. Some moderate statements of the British Prime Minister boosted the pound. Multinational banks believe that the sharp decline in the early stage is enough to reflect the risks brought by brexit, and the pound may continue to rebound in the future. The operation idea can also be changed to rebound, with empty single focusing on the pressure position near 1.2603 and multi single focusing on the support position near 1.2381.

3. Crude oil (1-hour chart line)

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Crude oil rebounded sharply by about 4% yesterday. Affected by the increased probability of implementing the production restriction agreement at the Vienna conference, the oil price rose by nearly $2, which greatly boosted the Bulls' confidence. However, the price has come to a pressure position in the early stage. Whether the subsequent breakthrough can continue depends on the strength of the bulls. The operation idea is mainly shock consolidation in the near future, with empty orders paying attention to the pressure position near 49.61 and multiple orders paying attention to the support position near 47.08.

4. Gold (1-hour chart line)

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Gold rebounded slightly yesterday and continued to fall under the pressure of the US dollar in the near future. In the case of a pause in the strength of the US dollar, the gold price will rebound. The recent operation idea can be changed into shock rise and bargain hunting. Short orders focus on the pressure position near 1232.8 and more orders focus on the support position near 1204.8.

5. Silver (1-hour chart line)

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The trend of silver also rebounded. You can refer to gold for operation ideas. It mainly focuses on shock rise and bargain hunting. Short orders pay attention to the pressure position near 17.19 and multi orders pay attention to the support position near 16.45.

Focus on data today:

Tuesday, November 22, 2016

① 15:00 Swiss October trade account

② 19:00 UK November CBI industrial order difference

③ 21:30 Canadian retail sales rate in September

④ 23:00 Richmond Fed's manufacturing index in November and the total sales of existing homes in October were annualized

⑤ API crude oil inventory for the week from 05:30 the next day to November 18

Risk tips:

Foreign exchange transactions, contracts for differences and other margin transactions have high risks and are not suitable for all investors. You should carefully consider your investment objectives, experience level and risk tolerance. You may lose some or all of your money. Traders should clearly understand all risks associated with margin trading. If you have any questions, you can consult an independent financial adviser if necessary. The information of the consulting product comes from public data, and strive to make the content of the consulting product objective and fair. However, the views, conclusions and suggestions in this paper are only for reference.