文/王召金 进一步观察1小时级别行情，金价呈现阶梯式下行格局，反弹过程中量能持续萎缩，说明多头反攻意愿 薄弱。K线沿短期下行趋势线运行，每次反弹至趋势线附近均遇阻回落；KDJ指标在低位反复钝化后再 度向下发散，未出现明显的超买修复信号，暗示短线调整节奏仍在延续。当下1小时图的关键支撑位于 4280一线，若该位置失守，将加速向下方强支撑区间靠拢。 聚焦4小时级别走势，金价周五再度震荡走低，尽管单日跌幅有限，但技术形态已显疲态。若4300关键 支撑位被有效跌破，下方下行空间将全面打开。目前短期均线组已拐头向下形成压制，MACD指标运行 于0轴下方，空头动能呈现逐步增强的态势。综合基本面与多周期技术面分析，下周一黄金短线操作思 路建议以反弹做空为主、回调做多为辅。上方短期需重点关注4380-4400一线阻力区间，下方则需留意 4270-4250一线支撑区域的防守力度。 尽管当前市场利好因素云集，但黄金后续上涨空间或面临显著约束。一方面，前期累计的较大涨幅已积 累丰厚获利盘，部分交易员大概率选择落袋为安，机构投资者也可能基于仓位平衡需求进行投资组合再 调整，这将对金价形成直接抛压。另一方面，全球大宗商品交易龙头——芝 ...

周三(12月31日)亚市盘中，现货黄金价格一度突破4350美元，目前交投于4331.00美元/盎司附近，现货 黄金在早盘交易中上涨，凭借4350美元关键支撑位的企稳获得了看涨动能，从而实现了当前这些谨慎的 涨幅。但由于价格仍交易在50日指数移动平均线(EMA50)下方，由此带来的负面压力限制了其短期内强 劲反弹的可能性，前市场仍由看跌修正浪主导。 根据美联储在12月9-10日会议的联邦公开市场委员会(FOMC)会议纪要，大多数美联储官员认为，只要 通胀随时间下降，进一步降息是合适的，尽管他们在何时以及降息幅度上仍存在分歧。 根据CME FedWatch工具，FOMC会议纪要发布后，基于联邦基金期货合约的1月降息概率略微下降至约 15%。 芝加哥商品交易所(CME)集团，上周在交易所网站上发布的通知中，提高了黄金、白银和其他金属的保 证金要求。这些通知要求交易者在下注时提供更多现金，以防交易者在交割合约时违约。 交易者们准备迎接周三晚些时候发布的美国初请失业金人数报告。经济学家预测截至12月27日的一周新 申请人数将小幅上升至220,000，而前一周为214,000。预计金融市场将在薄弱的交易量中波动，因为交 ...

2025 年 12 月 26 日 股指期货将偏强震荡 黄金、白银、铂、铜期货价格将创下 上市以来新高 白银、铂、钯、多晶硅期货将震荡偏强 黄 金、铜、镍、豆粕期货将偏强震荡 陶金峰 期货投资咨询从业资格号：Z0000372 邮箱：taojinfeng@gtht.com 【正文】 【声明】 本报告的观点和信息仅供风险承受能力合适的投资者参考。本报告难以设置访问权限，若给您造成不 便，敬请谅解。若您并非风险承受能力合适的投资者，请勿阅读、订阅或接收任何相关信息。本报告不构 成具体业务或产品的推介，亦不应被视为相应金融衍生品的投资建议。请您根据自身的风险承受能力自行 作出投资决定并自主承担投资风险，不应凭借本内容进行具体操作。 【期货行情前瞻要点】 通过宏观基本面分析和黄金分割线、水平线、日均线等技术面分析，预期 2025 年 12 月 23 日期货主力合约行 情走势大概率如下： | 期货品 | 主力合 | 趋势 | 阻力位 | 支撑位 | 备注 | | --- | --- | --- | --- | --- | --- | | 种 | 约 | | | | | | 股指 | IF2603 | 偏强震 | 4646 ...

谈及近年来红枣期货市场变化，参赛者普遍感受到市场正在经历一场深刻的变化：供需格局波动加剧、 价格季节性特征强化、参与者结构多元化。 第十九届全国期货（期权）实盘交易大赛暨第十二届全球衍生品实盘交易大赛已圆满收官，其中首次设 立的"同舟杯"专项奖以突出的产业烙印与精密的赛制设计，成为连接金融交易与实体产业的重要桥梁。 近日，"同舟杯"红枣组的两位杰出交易者接受期货日报记者采访，分享了他们在红枣这个独具中国特色 的期货品种上的实战心得。 顺应天时的交易节奏 "从供应端来看，红枣价格波动明显，主要原因在于天气变化。2023年红枣因天气灾害减产，2024年恢 复性增产，预计2025年将再次减产。同时，红枣需求弹性也在增大，消费者对价格的敏感度不断提高， 被动消费比例持续上升。在价格波动特性方面，红枣期货波动率显著上升，今年上半年红枣期货主力合 约日均波动率为2.8%。"昵称为"hero"的参赛者表示，总体而言，红枣市场已形成"供应波动大、价格敏 感度高、产业参与深"的新特征。 对于风险控制，"徐霞客"和"hero"都认为，严格的仓位控制是期货交易的"生命线"。 "hero"表示，参与红枣期货交易要实时跟踪关键期的天气 ...

Group 1: Gold Market Analysis - Gold prices showed a slight increase, reaching $4,338, with a potential weekly gain of 0.6% [2] - The market sentiment is subdued as the Christmas holiday approaches, despite a weaker US CPI in November that typically supports gold prices [2] - The short-term outlook for gold remains bullish, nearing the historical high of October, but the environment may not be as favorable in 2026 [2] Group 2: Technical Analysis of Gold - The gold market is in a bullish trend, with a high point established at $4,375, indicating limited potential for new highs [3] - The trading range for gold is identified as $4,375 to $4,250, with a smaller range of $4,350 to $4,280 [3] - Recommendations suggest focusing on buying on dips and monitoring resistance at $4,360 to $4,380, while support is noted at $4,310 to $4,290 [5] Group 3: Oil Market Analysis - Oil prices experienced fluctuations, touching a low of $54.98 per barrel but rebounding to $56.54 for WTI and $60.47 for Brent due to geopolitical uncertainties [6] - The oil market has seen a cumulative decline of approximately 1% over the week, marking the second consecutive week of decline [6] - Increased supply uncertainties are noted, particularly regarding US sanctions on Venezuela, which may impact oil exports and provide a geopolitical risk premium [6] Group 4: Technical Analysis of Oil - The oil market is currently in a downward trend, having broken through a significant support level at $56 [7] - The short-term trading range is identified as $56.85 to $55.55, with expectations of further adjustments within this range [7] - Recommendations for oil trading suggest focusing on buying on dips and monitoring resistance at $58.0 to $59.0, with support at $55.5 to $54.5 [7]

从技术面来看，如果看涨压力加剧，高于近期高位的流动性可能会推高金价。如果突破并守住4344- 4350美元上方，则将有进一步的上涨潜力。 从4小时图来看，金价日内虽小幅回调，但整体技术结构依然偏多。价格仍稳稳运行在100日指数移动均 线上方，显示中期趋势支撑有效。 布林带呈现扩张状态，暗示波动率上升，且14周期RSI指标位于50中轴上方，表明多头动能尚未被破 坏，整体"阻力最小的方向"仍偏向上行。 若后续多头重新发力，并有效站上布林带上轨附近的4350美元，金价有望再次挑战4380美元的历史高 位，并进一步上探4400美元这一心理关口。 反之，若回调延续且价格跌破4300美元（12月17日低点），短线可能吸引更多卖盘，下方需重点关注 4270美元以及4230美元附近的100日EMA支撑。整体而言，技术面显示黄金仍处于高位整理阶段，多头 结构尚未被破坏。 周四（12月18日）亚市盘中，现货黄金走势小幅走低，目前交投于4336.08美元/盎司附近，现货黄金近 期盘中交易，现货黄金价格依然以积极震荡为主，短期内主要的多头趋势依然占据主导地位，且价格沿 着该趋势的支撑性次级趋势线运行，显示出多头趋势的稳定性。 盛宝银 ...

Nutanix logo centered between glowing data streams flowing through server racks in a modern data center. Key Points Nutanix is back at early-2024 price levels after a brutal 40% drop since September. However, technical pressure is easing as momentum stabilizes from deeply oversold conditions. Analysts remain broadly bullish, arguing the sell-off reflects timing issues more than anything else.  Interested in Nutanix? Here are five stocks we like better. Shares of Nutanix (NASDAQ: NTNX) closed just ...

Core Viewpoint - In 2024, MicroPort Robotics faced significant challenges due to its own R&D and commercialization struggles, compounded by governance issues at its parent company. However, changes in the parent company's shareholding structure and the potential of its equipment and consumables business model have led to a resurgence in the company's stock performance [1]. Stock Performance - MicroPort Robotics experienced two significant price surges in 2024, with the stock reaching a high of 33.70 HKD, marking a maximum increase of 252.14% [2]. - Following the peak on October 8, the stock price fell to 21.20 HKD by November 21, representing a decline of 37.09% from its high [2]. - Investor sentiment shifted from divergence to consensus, with Hong Kong Stock Connect funds reversing their previous buying and selling strategies to accumulate shares during the downturn [2][8]. Technical Analysis - The stock's price movement in September showed a strong upward trend, with a nearly 40% increase driven by a "three consecutive days of gains" pattern, leading to a significant increase in trading volume [3]. - The Bollinger Bands (BOLL) indicated a breakout from previous trading ranges, with the stock showing a "six consecutive days of gains" pattern, establishing a steep upward channel [3]. - Despite the recent volatility, the distribution of shares remains concentrated at lower price levels, suggesting potential support for future price movements [3]. Volume and Market Sentiment - The stock's price increase was accompanied by declining trading volumes, indicating a lack of buying momentum, which is typically seen as a bearish signal [5]. - As the stock price fell below key technical levels, trading volumes decreased significantly, reflecting a shift in investor sentiment from active selling to cautious observation [7]. Institutional Activity - Recent trading data indicates that Hong Kong Stock Connect funds have begun to accumulate shares, contrasting with their previous selling behavior during the stock's earlier price increases [8][10]. - Over the past 60 days, these funds have been net sellers, but recent trends show a shift towards buying as the stock stabilizes [10]. Financial Performance - MicroPort Robotics reported a total revenue of 176 million HKD for the first half of 2025, a year-on-year increase of 77%, driven by significant growth in overseas markets [13]. - The company has improved its cost management, resulting in a 59% reduction in net losses during the same period [13]. - Following positive financial results, Morgan Stanley has raised its target price for MicroPort Robotics, reflecting confidence in the company's growth potential [14].

下周四是关键时点。 下周收上3920可接受，收上3940才好，收上3960才强，至少要收上3900才行。 本周实盘：开盘3848，最低3816，最高3895，收盘3888，收出一根高开探底回升的小阳线，涨幅1.40%。本周实盘：周一如期在3820-3800一带探底回升， 后四天振荡回升，但始终未能突破3896，总体走势在预期之内，还未见转好希望。收盘结果：中期已走软；短期多头优势明显。 周线图技术面：周k收出高开的小阳线；收盘在周生命线上、周关键区域之上；成交量萎缩、在5、10周均量线之下；macd白黄两线死叉，绿柱伸长；kdj 三线死叉向下发散，kd都已回到50-80值之间，j已回到20值附近；expma_s白黄两线金叉，白线走平，本周收在两线之上。目前属于中期已走软，短期属 于多头优势明显。 短期面临强弱选择，中期能否重新走强将进入关键期 目前中期已走软，属非牛非熊状态，周级别可上可下；短期可上可下。短期面临强弱选择，中期能否重新走强将进入关键期。具体来说：周初突破3897并 站回3900运行才能给短中期带来转好转强的希望；回补掉3922-3931缺口才能确立已见底；3954-3988是想再攻4034的拦 ...

Core Insights - The German Federal Statistical Office (Destatis) is set to release the retail sales report, with market expectations indicating a month-on-month (MoM) growth of 0.2% for October, consistent with previous figures [2] - The retail sales data is a crucial indicator of consumer demand and economic activity, and its performance could influence the euro's strength against the US dollar [3] Retail Sales and Currency Impact - If actual retail sales exceed expectations, it may provide short-term support for the euro, potentially allowing the euro/USD exchange rate to recover from daily losses [3] - Conversely, if the data falls short of expectations, the downward pressure on the euro/USD may be limited due to the European Central Bank's stance on maintaining stable interest rates amid uncertainty [3] - The market will also focus on the release of Germany's unemployment rate and initial consumer price index (CPI) data on the same day, which will contribute to a comprehensive assessment of economic health [3] Dollar Dynamics and External Factors - The euro/USD exchange rate is influenced not only by eurozone data but also by fluctuations in the US dollar [4] - Market expectations for a Federal Reserve rate cut in December have significantly increased, with over 87% probability for a 25 basis point cut, compared to 39% a week prior [4] - This expectation may suppress the strength of the US dollar, providing upward momentum for the euro/USD exchange rate [4] Technical Analysis - The euro/USD has recently shown a volatile trend, currently slightly down to around 1.1590, ending a three-day upward streak [5] - Key resistance levels are identified at the 50-day moving average of 1.1606 and the November 13 high of 1.1655, while initial support is noted at the 9-day moving average of 1.1571 and the three-month low of 1.1468 [5] - Technical patterns suggest that the exchange rate may continue to fluctuate within a range in the short term [5]