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News Analysis
In terms of crude oil, the market’s doubts about the production reduction plan have a negative impact on oil prices Unfavorably, the latest data showed that an unexpected surge in crude oil inventories further put pressure on oil prices. Oil prices eventually extended their previous decline and closed at a one-month low.
Gold finally broke out the next day. This is what I have emphasized many times in my gold analysis recently. In such a continuous consolidation process, the price of gold continues to fluctuate and weakly rises. It is only a matter of time that the upper level breaks. But we I have been waiting for this opportunity to arrive. The daily gold price hit a new high in nearly a month the next day. The short-term effective stabilization above got rid of the embarrassing sideways pattern in the early stage. Although the sharp sword of interest rate hikes will still be the biggest obstacle to the gold price, the current market is uncertain about the news. If there are many, gold prices will also take the opportunity to rebound.
Technical Analysis of Crude Oil
The data released in the early morning increased by nearly 1,000 barrels, which was very negative for oil prices. As a result, oil prices fell sharply in the short term. The daily line finally recorded a long upper shadow and a negative line. The overall short trend on the daily line was very obvious, and it continued After three days of negative returns, the oil price has approached the mark. In the short term, the oil price has broken through the lower Bollinger Bands. Oil prices are expected to still fluctuate in the Asian market during the day and mainly recover. In the next four hours, oil prices set a new low again the next day. The overnight bullish rebound has been weak. The failure ended, and the first-line resistance level above suppressed the counterattack potential of the bulls. As a result, the decline in oil prices is inevitable. Coupled with the negative data, the oil price is expected to worsen during the day. Chen Shaohan, the general public on the operation, recommends focusing on high altitudes.
Crude oil operation suggestions
Go long, stop loss, target. Go short, target. Above the Asian market, go short.
Gold technical analysis
After the four-hour adjustment of the gold price in the vicinity, the bulls are gaining strength. The upper part breaks through the upper track line to set a new high. The short-term lower moving average provides support. The bullish momentum is still sufficient. The lower part focuses on the support. Good Chen Shaohan suggested that you can still go long boldly.
Gold operation suggestions
Go long when gold rebounds, stop loss, target.
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