Gold trend analysis:
The pullback of overnight gold weakened significantly, technically presenting a harmonious resonance between the small cycle and the large cycle. Fundamentally , the risk of U.S. economic recession is rising, and the market is full of voices pessimistic about the U.S. economy. Risk aversion may push the price of gold to skyrocket at any time. The cold spring of the US economy hits again. The high-performance companies Meta and Amazon once again resorted to layoffs to cope with the uncertain economic situation in the future. Meta announced that it will lay off another 10,000 employees in the next few months, and Amazon plans to lay off 18,000 employees previously. On the basis of 9,000 layoffs, a new round of layoffs in the United States has begun, and the employment data in March may not be very good.
Gold prices found support at $ 1,950 , and the latest pullback in gold prices has stalled near the $1,950 level, the 23.6% Fibonacci retracement of the March 8-17 rally. This level is proving to be a rather critical support as it coincides with the swing high of February 1, suggesting that gold bulls are still in command. The simple moving averages of the two major daily levels (20 and 100) remain well below current price levels with a clear uptrend, while the relative strength index (RSI) remains outside overbought territory. This suggests that if the fundamentals remain supportive for gold prices, the bulls may soon make another attempt to break the psychological resistance of $2,000. The upper part focuses on the resistance around 1980, and the lower part focuses on the first-line support of 1950. The operation remains bullish and long after the callback.
Operating strategy:
Go long in 1960, add long in 1955, target 1975, 1980, stop loss 10 dollars;
Short in 1976, short in 1980, target 1960, 1955, stop loss 10 dollars;
Crude oil trend analysis:
Overnight crude oil is mainly volatile, and the upside is average. The uncertain economic situation makes the market's belief in bullish crude oil not firm. A slight disturbance may lead to an increase in selling orders. This phenomenon has repeatedly appeared in the early stage. The World Bank is pessimistic about the future economy and believes that unless countries take effective measures to boost labor supply, productivity and investment, by 2030, the average potential annual growth rate of the global economy will drop to 2.2%, which is a 30-year low. As an authoritative organization in the economic field, this prediction still has a strong warning significance.
Crude oil has two consecutive positive daily lines, and the short-term trend has strengthened. The 1-hour cycle refuses to pull back, and the upside structure expands. There is a high probability that there will be a new high within the day, but it is also likely to be the last short-term rise. It is recommended to focus on the pressure above the $74.60 line. Below, focus on the support near 72.2. The operation recommends shorting at 73.8, target 72.5, stop loss 74.3, mainly to go long after the callback, long order 72.5, 72 entry, target 74, stop loss 71.5
Operating strategy:
Go long at 71.5, go long at 70, target 73, 74, stop loss $1;
Short at 73.8, short at 74.3, target 73, 72, stop loss $1;
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