Market Overview
On Tuesday, August 5, US Treasury yields fell for two consecutive days, with the benchmark 10-year yield closing at 4.616% and the policy-sensitive 2-year yield ending at 4.202%. Spot gold briefly surged above the $4,100 mark but failed to hold, ultimately closing 0.55% higher at $4,077.48 per ounce. Spot silver touched the $60 threshold before retreating, finishing 2.29% higher at $59.53 per ounce. LME three-month copper broke through the $14,000 mark for the first time since June 3, as tighter US import flows tightened global supply. International oil prices experienced a sharp intraday plunge, with a potential breakthrough in the Strait of Hormuz deadlock instantly igniting the oil market. WTI crude fell for a second consecutive day, closing 5.51% lower at $74.41 per barrel, hitting a new low since July 13. Brent crude ended 5.55% lower at $78.42 per barrel.
Gold's Latest Trend Analysis
The gold market opened at $4,054.5 per ounce in early trading, then initially declined, hitting a daily low of $4,042.2 per ounce. Prices then oscillated higher, reaching a daily high of $4,106.3 per ounce, before retreating in late trading. The day closed at $4,077.4 per ounce, forming a candlestick with a long upper shadow resembling an inverted hammer. This pattern suggests a narrowing contraction in gold, awaiting a breakout. In summary, gold's trading range is gradually shrinking, and a breakout is imminent. Given yesterday's rebound from lows, bullish momentum is in control. Today's focus is on whether gold can sustain a break above resistance levels. The strategy involves prioritizing long positions on pullbacks, with short positions as a secondary approach. Key resistance levels are $4,120-$4,170, while support is at $4,065-$4,020.
Crude Oil's Latest Trend Analysis
The US crude oil market opened at $80.3 per barrel yesterday, then initially rallied, hitting a daily high of $82.54 per barrel. During the US session, prices fell sharply, reaching a daily low of $75.36 per barrel, before consolidating. The day closed at $75.56 per barrel, forming a large bearish candlestick with a very long upper shadow. This pattern indicates a high probability of further declines in crude oil. In summary, crude oil experienced a sharp rally followed by a fall, breaking through new lows. Bearish momentum has regained control, and today's trend is likely to continue. The strategy involves prioritizing short positions on rebounds, with long positions as a secondary approach. Key resistance levels are $77.9-$82.3, while support is at $73.0-$72.0.
Nasdaq Index's Latest Trend Analysis
The Nasdaq market opened at 28,793.03 points yesterday, then initially declined to 28,702.79 points. Prices then rallied strongly, reaching a daily high of 29,835.78 points, before consolidating. The day closed at 29,689.08 points, forming a large bullish candlestick with a slightly longer upper shadow than lower shadow. This pattern suggests the Nasdaq may test its previous highs further. In summary, after stabilizing at lower levels, bullish momentum has broken through multiple resistance levels and is gradually strengthening. Today's focus is on whether this momentum can continue. The strategy involves prioritizing long positions on pullbacks, with short positions as a secondary approach. Key resistance levels are 30,000-30,200 points, while support is at 29,350-29,100 points.
This content is for reference only and does not constitute investment advice. Investors should act at their own risk.
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