Gold Latest Market Trend Analysis: On April 10, gold market analysis: Early Friday in the Asian session, spot gold was trading near $4760 per ounce. Gold prices rose on Thursday, supported by a weaker US dollar, while investors assessed the durability of a fragile US-Iran ceasefire agreement and awaited the release of US March CPI data on Friday. Changing geopolitical dynamics, with the fragility of the Middle East ceasefire agreement intertwined with the impending US inflation data release, drove gold prices approximately 1% higher on Thursday (April 9). Spot gold once touched $4801 per ounce, finally settling up 1% near $4765, while US gold futures also settled 0.9% higher at $4818. This movement not only reflects the market's ongoing demand for safe-haven assets but also highlights how current global uncertainties are profoundly impacting commodity pricing logic.
Gold Technical Analysis: From the current chart perspective, on the daily chart, after a pullback from highs, gold prices are consolidating and rallying upward supported by short-term moving averages. The MACD green bars are narrowing, and the KDJ shows an initial golden cross at low levels, indicating weakening bearish momentum and building bullish potential. On the 4-hour chart, prices show a converging, oscillating pattern with moving averages flattening and converging; the MACD hovers near the zero line, indicating a stalemate between bulls and bears awaiting a breakout for directional confirmation. On the 1-hour chart, gold prices are holding above short-term moving averages, which are arranged in a bullish formation, providing support for upward movement. The MACD indicator has formed a golden cross with red bars steadily expanding, showing increasing momentum. The RSI indicator has broken above the 50 neutral line and is gradually moving towards the strong zone. The candlestick pattern shows a bullish structure with higher lows and higher highs. Short-term pullbacks have not broken key support levels, confirming an overall bullish bias, suggesting a continuation of the uptrend after a strong consolidation.
The secondary support level is identified at $4680. This level has been tested for three consecutive days without breaking and represents a core defensive line in the bull-bear battle; holding above it maintains the consolidation and bottom-building pattern. The major support is at $4600; a break below this level would open further downside space. On the resistance side, the primary resistance zone is $4780-$4800, a dense area requiring a strong volume breakout to alleviate short-term selling pressure. Strong resistance lies at the recent high of $4857; a break above this level could pave the way for a retest of previous highs. Overall, for today's gold trading, the short-term strategy recommended is primarily to buy on dips, with selling on rallies as a secondary approach. Focus on short-term resistance between $4810-$4850 above, and short-term support between $4720-$4680 below.
Crude Oil Latest Market Trend Analysis: Crude Oil Market Analysis: Early Friday (Beijing time, April 10) in the Asian session, US crude oil was trading near $98.43 per barrel. Although the Israeli Prime Minister stated intentions for direct talks with Lebanon following attacks, Iran indicated preparedness for various scenarios, suggesting oil prices might retest the $100 per barrel mark. Furthermore, sources indicated that Iran has informed mediating party Pakistan that its delegation will not participate in talks with the US until a ceasefire is achieved in Lebanon. International oil prices closed higher in volatile trading on Thursday, although Brent crude settled below $100 per barrel for the second consecutive session, narrowing gains to 1.2% at $95.92 per barrel (after reaching an intraday high of $99.50). US crude futures settled 3.7% higher at $97.87 per barrel (after reaching an intraday high of $102.70).
Crude Oil Technical Analysis: From the daily chart perspective, oil prices surged above $110, influenced by geopolitical macro factors. The moving average system is diverging upwards, supporting the price, indicating an upward medium-term objective trend. The price action shows secondary high-level consolidation supported by the uptrend, with strong bullish momentum. The medium-term trend is expected to maintain its upward rhythm. On the short-term (1-hour) chart, oil prices are consolidating at low levels, fluctuating around the $90 mark. The moving average system is exerting downward pressure on the price, keeping the short-term objective trend downward. The MACD indicator shows a golden cross opening upwards near the zero axis at low levels, but bearish momentum still holds an advantage. It is anticipated that intraday oil price movements will likely continue a oscillating downward trend. Overall, for today's crude oil trading, the recommended strategy is primarily to sell on rallies, with buying on dips as a secondary approach. Focus on short-term resistance between $105.0-$110.0 above, and short-term support between $92.0-$87.0 below.
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