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Original title: Did the Golden Oil Separate Again? Bullish gold signs appear, crude oil faces maximum risk
Monday (May 11),GoldAnd crude oil fell, of which spot gold fell again 1700American dollar/ /OuncePass
New coronavirus epidemic continuesThe marketApproach Reportedly, concerns about the second wave of infections are hitting the market again.
South Korea is also concerned about this. Germany is decreasingBehaviorAfter the restrictions, the country’s infection is also accelerating.
Although crude oil began to cut production substantially this month, market concern that oil storage capacity will be overwhelmed continues.
In terms of gold, Dailyfx wrote that the price of gold is still limited to a wide range of higher prices.Trading rangeAs of April 9, this range includes all daily closing prices.
When it comes, this lasting breakthrough may be instructive, but there are no signs yet. The price of gold has been in the last four days.Fall downThe previous bullish trend has been broken, but this is more about the performance of your range trading, rather than any downside momentum.
Paying close attention to this range may be the best way to observe this market every day.
The following is IG’s brief analysis and forecast on the gold and crude oil trend:
Gold: showing potentialBullishBounce signals
The price of gold in late April.DowntrendIt seems unlikely to last – the price of gold rose above the $ 1714 resistance level, underscoring the potential bull market that is beginning to recover.
The callback we saw today brought us backTrend lineAnd the 50% Fibonacci support level highlights the potential gold bounce area. With this in mind, unless we see gold drop below the $ 1682 support, the bullish outlook will remain unchanged.
WTI Crude Oil: Consolidation May Peak After Recent Gains
WTI crude oil has maintained range fluctuations since last Tuesday, during this periodPriceFluctuations are mainly limited to 23.84-27.39Dollar zoneBetween. There is only one week left before the end of the June contract.PricesWe may see the problem come up again.
With original WTIOil priceThe network has increased considerably, and we can see that the market begins to fall. Falling below the $ 23.84 level will bring higherBass guitaristOutlook Before this, thisAscending triangleOf interruptions provide usShort termDirection sign.
(Editor in charge: DF512)
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