Gold Market Update – On April 27, the benchmark 10-year U.S. Treasury yield closed at 4.307%, while the more policy-sensitive 2-year yield finished at 3.791%. Spot gold initially declined before rising, reaching an intraday high of $4,740 before paring some gains. It ultimately closed up 0.33% at $4,708.37 per ounce. Spot silver ended 0.34% higher at $75.67. International oil prices experienced significant volatility as markets assessed the possibility of renewed peace talks between the U.S. and Iran. WTI crude fell sharply ahead of the U.S. session, briefly dropping below $95 per barrel, then recovered some losses to close down 2.23% at $97.08. Brent crude finished 0.99% lower at $100.12 per barrel.
Latest Gold Price Movement – Last week, gold opened lower at $4,724.6 per ounce, then rose to a weekly high of $4,825.5 before facing resistance and pulling back to a low of $4,657.3. It eventually consolidated and closed the week at $4,708.7, forming a weekly candlestick with equal upper and lower shadows. This pattern suggests continued consolidation and potential breakout pressure this week. In summary, gold is currently trading within a range with bearish momentum dominant. Today, focus will be on resistance levels. Trading strategy favors selling on rallies as the primary approach, with buying on dips as secondary. Resistance is expected between $4,720–$4,740, while support lies at $4,655–$4,600.
Latest Crude Oil Price Movement – U.S. crude opened higher last week at $91.077 per barrel, retreated to a weekly low of $88.054, then staged a strong rally to a high of $100.71. After consolidation, it closed the week at $97.06, forming a bullish weekly candlestick with a longer upper shadow. This structure indicates a test of further rebound potential this week. In summary, crude oil showed strong upward momentum after breaking below previous lows and is currently in a third-wave pattern, suggesting possible continuation of the bullish trend. Today’s strategy leans toward buying on dips as the main approach, with selling on rallies as secondary. Resistance is seen at $98.5–$101.0, with support at $94.8–$93.0.
Latest Nasdaq Index Movement – The Nasdaq opened lower last week at 26,418, dipped slightly to 26,370.12, then rallied strongly to a weekly high of 27,321.57. After consolidation, it closed at 27,294.55, forming an almost full-bodied bullish weekly candlestick. This pattern suggests a high probability of further gains. In summary, the Nasdaq shows a clear upward trend. Today’s trading strategy favors buying on pullbacks as the primary approach, with selling on rallies as secondary. Resistance is anticipated between 27,400–27,500, while support lies at 27,120–26,980.
Comments