Shichang Golden Bank: The US Debt Talks Broke Down And Gold Hit A New High.

Fundamentals:

Last Friday, President Obama and congressional leaders held talks at the White House, but no substantive progress was made.

The Republican speaker of the house of Representatives, Bona (John Boehner), warned that he would no longer seek cuts.

Last Saturday, the two sides met again, but the talks broke again after 50 minutes.

The White House issued a statement saying President Obama reiterated his opposition to short-term debt ceiling raising and urged Congress to end dangerous political games in order to avoid a default by the US government.

Obama admitted for the first time that the United States could default on its debts. "If we happen," he said.

Technical aspects:

Last week, the golden week chart received a small pillar with a lower hatching line. The whole week showed a trend of concussion. The price fluctuated between 1610~1580. The Asian market price dropped to 1583 on Friday, and the European market rose sharply after the opening, and ended up at 1600.8.

Meanwhile, on Monday, the early opening of the Asian market was broken again on Sunday when the debt ceiling negotiations broke down in the US. The opening was a high jump, and it soon rushed to the 1623.9 highest point after the opening.

The 4 hour chart MACD forms a golden fork above the 0 axis, and SKD runs at high position.

Today's operation recommendations:

At the critical moment, fundamentals decide everything. Before the substantive progress of the US debt negotiations is made, it is not recommended to sell short gold. At present, the price is near the historical high. The price is too high and the profit margin is not large. Investors often do not dare to do so under such circumstances.

Gold: more than 1610, stop loss 1603; 1641 air, stop loss 1647, tracking stop loss.

Silver: more than 40, stop loss 39.5; 43 empty, stop loss 43.5, tracking stop loss