Latest Gold Market Trend Analysis: On May 19, gold staged a technical rebound during the Asian trading session on Tuesday, recovering to around 4560 after recent consecutive declines. Persistent tensions in the Middle East and unresolved risks of conflict between the US and Iran continue to support the market. Concerns over potential disruptions to energy supply chains are keeping international oil prices elevated, which in turn reinforces global inflationary pressures. The US dollar index retreated from its recent highs on Tuesday, partly as markets reassess the possibility of a diplomatic de-escalation in the Middle East. The short-term weakening of the dollar has provided support for gold, with some safe-haven funds flowing back into the precious metals market. However, expectations of persistent global inflation risks and potential further interest rate hikes by the Federal Reserve are currently capping gold's overall upside potential. From a technical perspective, gold's daily chart remains within a medium-to-long-term bullish structure, though recent corrective pressure has notably increased. The price retreated rapidly from its historical highs and once touched a one-and-a-half-month low, indicating that long positions at high levels have begun taking profits. The MACD indicator remains above the zero line, but the red bars continue to narrow, signaling a slowdown in medium-term upward momentum. The RSI indicator has retreated significantly from its previous overbought zone, showing that market sentiment has cooled compared to the earlier peak. However, no clear reversal signal has emerged in the overall trend, suggesting that medium-to-long-term safe-haven demand for gold persists. The 4500 level has become a key short-term support area, while the 4620-4680 zone constitutes a significant resistance band. If the US dollar continues to weaken, gold may retest the upper resistance; however, if expectations for Fed rate hikes intensify further, it could put renewed downward pressure on the gold price. On the 4-hour chart, gold shows signs of an oversold rebound. The MACD is beginning to form a bullish crossover at low levels, indicating a slight weakening of short-term downward momentum. Concurrently, a short-term support area has formed around 4532. If the US dollar index continues to decline, the gold price may further challenge the key 4600 level. Nevertheless, if US Treasury yields rise again, gold could face renewed selling pressure. For intraday trading, long positions can be considered around the 4532 and 4500 levels, with specific entry points to be determined based on real-time market conditions. Overall, the short-term trading strategy for gold today suggests focusing on selling on rallies as the primary approach, with buying on dips as a secondary tactic. Key short-term resistance above is focused around the 4590-4620 zone, while key short-term support below is focused around the 4530-4500 zone.
Latest Crude Oil Market Trend Analysis: During Tuesday's Asian session, WTI crude oil prices retreated after hitting highs, oscillating around $102.80. Previously, former US President Trump indicated that planned military action against Iran, scheduled for Tuesday, had been temporarily postponed, as Gulf ally nations sought more time for a diplomatic resolution to the dispute. Following this news, market risk aversion sentiment cooled briefly, leading some long positions to take profits and causing oil prices to retreat from recent highs. Investors should closely monitor US inventory data, OPEC+ policy developments, and the navigation situation in the Strait of Hormuz, as these factors will determine the medium-to-long-term direction of the crude oil market. From a technical standpoint, on the daily chart, oil prices are moving around the moving average system, indicating a medium-term objective trend entering a consolidation phase. The overall oscillating pattern in crude oil constitutes a secondary rhythm, which has been maintained for about two months, with the medium-term subjective trend direction remaining upward. Currently, the MACD indicator is operating near the zero axis, showing waning bullish momentum. The medium-term trend is expected to remain predominantly consolidative. On the short-term (1-hour) chart, crude oil price movements are highly repetitive, with prices crossing above and below the moving average system, indicating a short-term objective trend of consolidation. In terms of momentum, bullish and bearish forces are locked in a stalemate. Intraday crude oil movements are expected to follow an oscillating rhythm, with a high probability of fluctuating within the range of 98.20 to 104.80. Overall, the trading strategy for crude oil today suggests focusing on buying on dips as the primary approach, with selling on rallies as a secondary tactic. Key short-term resistance above is focused around the 108.0-110.0 zone, while key short-term support below is focused around the 102.0-100.0 zone.
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