Xu Gucheng: Gold and crude oil are on a roller coaster trend. Can it break the trend today?

April 25, Gold: Yesterday, the Asian market tested the high of 2330-2331 twice, and before the opening of the European market, it fell due to inertia and tested the low of 2311 twice. The US market began to exert force, and the market broke through 2337. There was a technical adjustment in the late trading, and the final closing was 2313. Nearby, the market first pulled up below 2322 in early trading today and then the market crashed three times. Now it has fallen below the early key defensive support of 2311, and the market has weakened. As of press time, gold has found its lowest near 2305.

Today\’s fundamentals 20:30 The number of initial jobless claims in the United States for the week to April 20 and the initial annualized quarterly rate of real GDP in the United States in the first quarter. This round is expected to be 2.1%. Also look at the actual personal consumption expenditures in the first quarter of the United States. The initial value of the quarterly rate and the initial value of the annualized quarterly rate of the U.S. core PCE price index in the first quarter.

Then look at the monthly rate of the US existing home contract sales index at 22:00 in March.

From a technical analysis point of view, the Asian market is weak on Thursday, and the European market may continue to be short. The focus below is on the key support of 2305-2300. If this position is held, the market range will be in the 2300-2337 range, with high selling and low scum. However, The current trend is weak, and the pressure from the bulls above is high. It is difficult to give opportunities to rise in the short term, so it will be safer to stay on the sidelines for the time being.

In today\’s operation, Xu Gucheng recommends trying more at 2305-2300 and putting down 2393 for losses.

The goal is to see if 2322 can stand effectively here. If it stands, then let’s watch 2337 compete for it.

If it is stable, you can wait for 2390-2385 to try low and long, with a loss of 2382.

If the Asian and European market continues to weaken during the day and there is no sign of rebound, just find a high position at 2320-2325-2330 before the US market and take advantage of the trend to go short and see how 2300 breaks.

Crude oil: At the beginning of the week, the price was over 81.1, with a loss of 80.5. The market continued to rise yesterday in the Asian market and once tested as high as 83.7. Then the market fell back to 82.7 after the opening of the European market. After the opening of the US market, the market maintained a slight increase. The data was negative, and the market rose. It rushed to 83.6 but still failed to stand firm. The K-line closed the cross needle in 15 minutes. It also tested the low of 82.4 in late trading, and finally closed at 82.8. The market opened this morning and remained bullish. As of press time, the price is around 82.9.

From a technical point of view, the market stabilized at the bottom of 80.7 on Monday. On Tuesday, it surged higher and then fell inertially to test the bottom support. On Wednesday, the market recovery trend was weak. Then on Thursday, the Asian and European market will first be optimistic about falling back to around 82.1 as a defense, as long as this position is not broken. , then the market still refers to the overvalued bottom in the 80.7-85.65 range, so today\’s operation recommends a pullback to more than 82.1, with a target of 83.5-83.7, and a loss of 81.45.

If it breaks 83.7, it is expected to rise above 84.3 and 85.65 this week.

If the US market pulls up to around 84, you can try to bearish 82.5-82.

Like (0)
Previous April 25, 2024 5:08 pm
Next April 25, 2024 5:08 pm

Related posts