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7.29 Gold plummeted and crude oil surged latest market trend analysis and exclusive operation suggestions today
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Analysis of the latest market trends of gold plummeting and crude oil surges and exclusive operation suggestions today." Hope it will be helpful to you! The original content is as follows:
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Analysis of the latest gold market trends:
Analysis of gold news: During the Asian trading period on Monday, the gold price rebounded slightly from US$3,320, filling the short gap in the opening of the new week. As investors chose to leave the market and wait and see before the Fed's two-day monetary policy meeting, the long power of the dollar has temporarily weakened, providing support for interest-free asset gold. However, with the United States reaching a 15% tariff agreement with Europe and the positive progress of easing trade between the United States, Japan and the United States, market risk appetite has rebounded, weakening the attractiveness of gold as a safe-haven asset. According to market research, "The current trade optimism has weakened the risk-averse demand of gold, and the weakening of the US dollar provides support for gold prices. The two forces offset each other, causing gold to show a volatile pattern." The current gold price is in a "macro game" and "technical adjustment"the intersection of . Fed policy uncertainty prompted funds to temporarily return gold to risk aversion, while global trade optimism suppressed its upside potential. This week, closely monitor the FOMC statement and Powell's speech, and www.xmserving.combine the upcoming GDP and PCE data to find the next direction of gold.
Gold technical analysis: Gold rose and fell sharply last week, and the weekly line closed with an upper shadow of $102. From the perspective of the monthly line, April, May and June have been trading for three consecutive months, so the closing line in July is also very important; if the closing line continues to close, it can be said that the bears will show their strength in the future; without major positive news or continuous positive news, even if the Federal Reserve cuts interest rates, gold may take the opportunity to stand above the 3400 mark again and hit the historical high of 3500 area, but it is difficult to continue to move into the bull market; we are more optimistic about the decline in the super sweeping state, and gradually bearish 3245 and 3120 break the level in the future and test the 3000-2950 area. Recently, gold, both bulls and bears, has very poor continuity. It was the most obvious last week, with a sharp rise first and then a sharp fall. Next, we will pay attention to the pressure in the area of 3350 in the short term. This place can be said to be very critical, and it can also be regarded as a short-term long-short watershed for gold; under the suppression of the 3350 area, look at the decline, and then look at the test 3330 and today's low point area; if the 3350 area cannot be suppressed, the market will expand the rebound range. We will further focus on the 3770-75 area above, and the maximum is not ruled out to remove 3396-3405. Then fall again. This is our overall idea. Refer to the formulation of trading strategies, and we will follow up in time during the session. Overall, in terms of gold's short-term operation ideas today, He Bosheng recommends that rebound short sellers should be the main focus, and pullbacks should be the auxiliary focus. The short-term focus on the 3330-3340 line of resistance above, and the short-term focus on the 3290-3280 line of support below.
Analysis of the latest trend of crude oil:
Crude oil news analysis: On Monday morning, U.S. crude oil futures rose 22 cents to $65.38 per barrel, while Brent crude oil rose slightly to $68.66 per barrel. Although oil prices stopped falling and rebounded, prices had fallen to three-week lows in the early stage, and the market is still digesting the impact of the potential increase in Venezuela. It is reported that Venezuelan state-owned oil www.xmserving.company PDVSA is preparing to resume operations with foreign joint ventures. Once US President Trump resumes corresponding export authorizations, the country will be able to re-export crude oil in exchange, or put additional supply pressure on the market. The current U.S. crude oil price is struggling to find direction in the long-short game. Trade favorable conditions have boosted market sentiment in the short term, and geopolitical tensions in the Middle East have also provided certain support. But on the other hand, OPEC+ insists on increasing production and the expectation of Venezuela to return to the export market constitutes a suppression on the supply side. Overall, there is a high possibility that oil prices will run between $65 and $68, so we need to pay attention to the actual results of this week's OPEC+ meeting.
Crude oil technical analysis: From the daily chart level, the medium-term trend fluctuates upward test around 78, the K-line closes to a large physical negative line, and the oil priceRepeatedly cross the moving average system, the medium-term objective trend direction fluctuates. But the subjective direction alternates according to the primary and secondary directions, and the direction goes downward. However, from the perspective of kinetic energy, the MACD indicator is parallel to the fast and slow line near the zero axis, and the long and short forces are stalemate to each other. It is expected that the medium-term trend of crude oil will remain unchanged. The short-term (1H) trend of crude oil is blocked at 66.70, and it changes rapidly from rising to falling. The moving average system diverges downward, and the short-term objective trend direction is downward. The MACD indicator shows signs of a golden cross below the zero axis, and the bear momentum still has the advantage. It is expected that the crude oil trend will continue to decline after a weak rebound in the day. Overall, in terms of today's operational ideas of crude oil, He Bosheng recommends that rebound high altitudes should be the main focus, and the retracement should be the low long as the auxiliary. The short-term focus should be on the 68.5-69.5 line resistance at the top in the short term, and the short-term focus should be on the 64.5-63.5 line support at the bottom.
This article is exclusively planned by gold crude oil analyst He Bosheng. Due to the delay in online push, the above content is personal advice. Because the online publication is timely and the suggestions in the article are for learning reference only, and the risks of operating based on this are at your own risk. No matter whether the views and strategies of the article are consistent with everyone's opinions, you can www.xmserving.come to me to discuss and learn together! There is nothing difficult in the world, I am afraid of those who are interested. Investment itself carries risks, reminding everyone to identify the authoritative platform and the strong teacher. Fund safety is the first priority, secondly, consider operational risks, and finally how to make a profit.
The above content is all about "[XM Foreign Exchange Market Analysis]: Analysis of the latest market trends of gold plummeting and crude oil surges and today's exclusive operation suggestions". It is carefully www.xmserving.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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