Vast Gilded: Continue Bullish, Look for Second Pullback
Gold continued its strong upward trend in the last trading day, maintaining its gains after a massive fluctuation during the U.S. trading session, with the daily candlestick closing as a medium-sized bullish candle with a slight lower shadow. Spot gold reached a high of 4497.69 USD / ounce and has now surpassed the 4500 USD / ounce mark as of today's morning session. Crude oil also continued its slight rebound, with the daily candlestick closing as a bullish candle without shadows. The latest quote for domestic crude oil futures is 442.2 yuan, maintaining a strong oscillating pattern.
Gold Market Analysis
Trend Analysis
Daily Level: After breaking through the previous historical high, the K-line is oscillating upward along the short-term moving averages, with the moving average system showing a bullish arrangement and no clear top signal yet. Geopolitical tensions (e.g., U.S.-Venezuela, Israel-Iran conflicts) and expectations for U.S. Federal Reserve rate cuts continue to provide upward momentum, with an annual increase exceeding 69%.
4-Hour Level: Prices have broken through the previous consolidation pressure zone and are currently oscillating narrowly around the high of 4500 USD / ounce. Attention should be paid to opportunities for a second upward movement after a pullback, with the 4500 area being a core support zone.
Hourly Level: Short-term moving averages are diverging upward, and the bullish structure is solid; however, there is a short-term adjustment demand at a smaller level, necessitating caution against intensified risks at high levels.
Trading Suggestions
Establish long positions near 4500-4502, with a stop loss at 4494.1 and a target range of 4540-4542.
Crude Oil Market Analysis
Trend Analysis
Daily Level: Continuously forming a bullish pattern without shadows, the short-term moving averages are gradually diverging upward, maintaining a strong overall trend. However, the previous 60 USD / barrel level was breached, and current attention should focus on the pressure conversion at this position.
4-Hour Level: Prices have moved away from the previous high oscillation range, oscillating upward along the short-term moving averages, but a certain degree of divergence has appeared on the short-term, indicating a demand for technical adjustment.
Spot Dynamics: The latest price for domestic crude oil futures is 442.2 yuan, with an intraday increase of 0.27%, reaching a high of 444.1 yuan, and the 439-440 range below forming short-term support.
Trading Suggestions
Establish long positions near 57.9-58.1, with a stop loss at 57.2 and a target range of 59.8-60 $BTC #比特币与黄金战争
