On April 25, yesterday, gold in the U.S. market rose again under the stimulation of risk aversion. However, the good times did not last long and gold turned downward again, indicating that there are still heavy resistances above. Gold was only rebounded by the stimulation of risk aversion and did not. Bringing a reversal to gold, since the trend has not changed, gold\’s early rebound will continue to be short.
The 1-hour moving average of gold is still in a short position. The 1-hour gold rebounded to a high of around 2337 in the US market yesterday, but it quickly came down, leaving a long upper shadow line. Gold is still full of resistance above 2330, and has not really effectively broken through to stand at 2330. Today Continue to go short at 2330.
Early trading operation ideas: Gold is short at 2330, stop loss at 2338, target 2300-2290; Analysis of the latest crude oil market trend: On Wednesday (April 24) in the U.S. market, U.S. crude oil fluctuated within a narrow range, currently trading around $83/barrel .
Oil prices rose more than $1 on Tuesday as the U.S. dollar index fell to its lowest in more than a week and investors shifted their attention from geopolitical issues in the Middle East to global economic conditions. In addition, a sharp decline in API crude oil inventories also provided support to oil prices.
Brent crude oil futures rose $1.42, or 1.6%, to settle at $88.42 a barrel on Tuesday; U.S. crude oil futures climbed $1.46, or 1.8%, to settle at $83.36 a barrel on Tuesday.
The U.S. dollar index fell on Tuesday, hitting a two-week low of 105.61.
S&P Global\’s previous survey showed that U.S. business activity cooled to its lowest level in four months in April due to weak demand.
A lower dollar typically boosts demand for dollar-denominated oil from investors holding other currencies.
Both benchmarks fell more than $1 earlier as tensions between Israel and Iran eased and lingering concerns about demand from Asia\’s biggest oil importers.
However, Israel\’s latest developments still provide some support to oil prices.
Investors are also watching changes in U.S. crude oil inventories.
The latest data from the API showed that U.S. crude oil inventories fell by 3.23 million barrels last week, the largest drop in the past six weeks, providing confidence to bulls.
Investors also need to pay attention to official data released by the U.S. Energy Information Administration (EIA) in the evening.
Crude oil technical analysis: Although crude oil fell sharply on the daily chart after rising last Friday, it fell back to the 80.7 line on Monday and then recovered. On Tuesday, it continued to fall to the 80.9 line and then rebounded to close above 83. The current trend is strong and is expected to continue. Continue to rise, looking to the 85.7-86.2 area at the top.
Looking at the four-hour line, the European market fell back at the 83 mark yesterday and once fell to 80.88 US dollars per ounce. The US market began to strengthen and continued to rebound, eventually pulling it above the 83 mark. Currently, the upper rail opening of the Bollinger Bands is moving upward, and oil prices are near the upper rail. , the MACD red energy column is increasing, and the short-term trend is relatively strong.
Although part of the premium brought about by the conflict in East Asia continues to subside from the market, and crude oil prices once fell below the 81 mark, its impact on the crude oil market has not been completely eliminated. At present, it seems difficult for WTI crude oil to fall below the strong support of the 80 mark. The short-term is expected to continue to strengthen. For intraday operations, you can consider entering the market in the 82.4-82 area, and look to the 84.5-85 area above.
On the whole, today\’s crude oil operation ideas suggest that the main focus is on the lows and longs, supplemented by the rebound from the highs. The top short-term focus is on the first-line resistance of 84.5-85.0, and the bottom short-term focus is on the 82-81.5 first-line support.
