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4.29 Gold trend rises and crude oil weakly falls today's market trend analysis and operation suggestions
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: 4.29 Gold Trend Rises and Crude Oil Fastest Declines Today's Market Trend Analysis and Operational Suggestions". Hope it will be helpful to you! The original content is as follows:
The latest gold market trend analysis:
Gold news analysis: Gold starts unfavorably in the new week. At the end of the European session, the spot gold trading price fell by about 0.65% xm-forex.compared with the previous day. Last week, spot gold ushered in adjustment after hitting new highs in recent weeks. As of press time, spot gold fell 0.52% to $3,300.72 per ounce. Gold prices fell by more than 1% during the day to a day low of US$3,267.86. Spot gold prices fell, a stronger dollar and expectations of easing trade tensions between China and the United States have weakened demand for safe-haven assets. Although some of the gold's hedge appeal has weakened, its overall forecast and price action remains optimistic. The possibility of gold hitting new highs should not be underestimated until we see clear lower highs, lower lows emerge, and solid trade deals rather than more political boasting by the Trump administration. However, global trade concerns remain, and the escalating conflict between Russia and Ukraine has limited the downward space for gold. This week, which will also closely monitor U.S. macro data, including Tuesday's JOLTS job opening report, Wednesday's personal consumption expenditure (PCE) data and Friday's non-farm employment (NFP) data, will provide more clues to the Fed's future policy path.
Gold technical analysis: From the analysis of technical forms, the current market presents two key signals: First, the hourly level has been constructed with the prototype of the head and shoulders bottom, the left shoulder is at $3,280, the bottom reaches $3,260, and the right shoulder is initially formed at $3,265, and is currently at a key node for the neckline breakthrough. If it can effectively break through the neckline level of $3,370, it will trigger a new round of strong upward trend; second,The 4-hour cycle is brewing a W-bottom pattern. Whether this pattern can be finally established depends on whether the double-top pressure of $3,370 can be broken. If US$3370 continues to be under pressure, gold may continue the range oscillation pattern of US$3370-3260; once this resistance level is broken, gold prices are expected to start a new round of unilateral upward trend.
Affected by the weekend's geopolitical situation, gold opened high to $3,337, but then a "high opening and low closing" market began, further confirming that the current market is still in a fluctuating characteristic. It is worth noting that after the early decline, the European market did not continue to break the low trend, which means that the market should not be too bearish and should be wary of the possibility of bottoming out and rebounding. The US market rose to a maximum of 3352 and finally closed around 3344. The daily line formed a hammer-head small positive line with a longer upper shadow line. Based on this K-line pattern, we can see if it can continue today. Therefore, the market for gold will still fluctuate this week. First, see whether 3370 breaks through. If 3370 does not break through, look at the low-level fluctuation range. If 3370 breaks through, then look at the unilateral upward trend. Specific operation ideas: Still waiting for the opportunity to fall back and go long. Pay attention to the support points of 3308 and 2290 in the short term, and you can make effective long orders at this point respectively. Strong support is at the 3260 line, breaking the level opens downward space! On the contrary, if the rise continues, it will look at the 3370-86 resistance. Overall, in terms of today's short-term gold operation ideas, He Bosheng recommends that the pullback be long, and the rebound is supplemented by high altitude. The short-term focus on the upper short-term focus on the 3360-3370 line resistance, and the short-term focus on the 3310-3300 line support.
Analysis of the latest trend of crude oil:
Analysis of crude oil news: International oil prices rose slightly in early Monday trading, but due to the intensification of global trade concerns, the outlook for global economic growth and fuel demand remains full of uncertainty. At the same time, expectations that OPEC+ may soon increase supply have further suppressed market sentiment. Although the current oil price trend shows signs of short-term recovery, the core risk factors have not been lifted. Global trade concerns, OPEC+'s potential production increase decisions and expectations of a decline in global demand will continue to put pressure on the oil market. If there is no clear positive news in the short term, the upward space for oil prices will be limited.
Crude oil technical analysis: From the daily chart level, the medium-term trend moving average system is arranged downward, and the medium-term objective trend direction is downward. After the oil price hits a low of 55.20, the frequent alternation of bulls and bears formed will accumulate momentum for shorts in the medium term and are expected to further decline to the 50 position in the later period. The short-term (1H) trend of crude oil continues to run at a secondary oscillation rhythm, oil prices repeatedly cross the moving average system, and the objective short-term trend direction is the oscillation rhythm. The MACD fast and slow line runs above the zero axis, and the bulls perform sufficient momentum. It is expected that the crude oil trend will continue to fluctuate during the day. The rhythm of the slight rise will be blocked again after a high probability of falling again. Overall, in terms of today's operational ideas of crude oil, He Bosheng recommends that rebound high altitudes should be the main focus, and the retracement should be the low long as the auxiliary. The short-term focus should be on the 63.5-64.0 line resistance at the top, and the short-term focus should be on the 60.5-60.0 line support at the bottom.
This article was provided by He Bosheng. Due to the delay in online push, the above content is personal advice. Because the online posting is timely and is for reference only, you can bear the risk at your own risk. Please indicate the source when reprinting.
The above content is all about "[XM Foreign Exchange Market Analysis]: 4.29 Gold Trend Rises and Crude Oil Fails to Fall Today's Market Trend Analysis and Operational Suggestions". It is carefully xm-forex.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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