Analysis of the Trend of Gold and Crude Oil Market

2024-06-09 2862

    Gold:

    Yesterday, the Asian gold market hit a low of 2314, which was originally planned to be over 2309, but unfortunately, it was not able to be offered. The European market began to rise, while the US market fluctuated at 2330 for a long time. Yes, I also went short and gave it a low of 2326 but did not go out. The US market started to rise, reaching a high of 2354. Today, the opening rose once, and 2351 started to fall, giving it a low of 2325, which gave us the opportunity to go short yesterday.

    Based on the current market situation, the overall trend is bearish, and tomorrow's ADP data will be the main focus. The overall trend is still bearish, and this round of decline may fall below 2314 to further test the 2303 position. If it reaches the 2303 position, I see the decline continuing to 2290-2280. So in terms of operation, it is recommended to focus on rebounding short, defend above 2340-2345, and rely on the midline short below to see a drop below 2300-2290-2280.

    Crude oil:

    Yesterday, the market opened in the range of 76.4-77.5 for a long time, and it wasn't until the US market began to fall. We also chose to go long in the range of 76-75.8, which resulted in more losses. In fact, many analyses have shown that falling below 75.8 is a bearish continuation. However, the market has been stuck in the range of 76 for a long time, and I really wanted to try a short range. I was originally expected to fluctuate in the range of 75.8-81, but as soon as I entered the market, I was trapped and fell to a low of 74. This morning, the continued decline did not give a rebound, and the lowest market gave 72.8. The continuous month long range of volatility was broken yesterday, and the market was very strong. The unilateral decline caught me off guard. The API in the early morning and the EI tomorrow night were caught off guard. A will repair the rebound consolidation part, so in future operations, it is recommended to focus on a long pullback, with a pullback to the mid range of 72.5-72. The short-term goal is to first look at 75-76.4 and stand firm at 76.4, with a bullish outlook for breaking through 81. Damaged below 71.7.

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