Gold Market Update – On April 14, the benchmark 10-year U.S. Treasury yield closed at 4.2930%, while the more policy-sensitive 2-year yield edged down to 3.7830%. Spot gold opened lower but then climbed, briefly falling below the $4,700 mark before settling down 0.09% at $4,746.18 per ounce. Spot silver ultimately fell 0.35% to close at $75.83 per ounce. Amid news that U.S. forces would block vessels departing Iranian ports and Tehran's threat of retaliation against ports in neighboring Gulf states, international crude oil prices surged over 2%, though they retreated significantly from intraday gains exceeding 10%. WTI crude settled up 2.42% at $98.06 per barrel, while Brent crude finished 3.98% higher at $98.08 per barrel.
Latest Gold Price Movement – Gold started yesterday's session lower, opening at $4,706.1 per ounce due to fundamental factors, then extended declines to a daily low of $4,644. Subsequently, prices staged a strong rally, reaching a session high of $4,750.3 before consolidating to close at $4,742.5. The daily chart formed a hammer candlestick with a very long lower shadow, indicating a potential bullish reversal after testing support. Overall, the conclusion is that gold's bullish momentum may continue following the positive close, but a breakout above key resistance levels is crucial. For today's trading, the strategy favors initiating long positions on pullbacks, with short positions as a secondary approach. Resistance is eyed at $4,800-$4,860, while support lies at $4,733-$4,700.
Latest Crude Oil Price Movement – U.S. crude opened higher yesterday at $104.93 per barrel, influenced by fundamental news. After a slight extension to a daily peak of $105.65, prices reversed sharply downward, hitting a low of $96.99 before a late-session rebound led to a final settlement at $97.97. The daily candle closed as a large bearish candlestick with nearly equal upper and lower shadows, suggesting ongoing consolidation under pressure. In summary, crude oil faces secondary selling pressure, and a breakdown below support levels is being monitored. Today's approach prioritizes selling on rallies, with long positions advised only upon confirmation of stability. Resistance is seen at $93.6-$96.3, with support at $89.3-$86.5.
Latest Nasdaq Index Movement – The Nasdaq index opened lower yesterday at 24,818.29 points, dipped to a session low of 24,751.57, then rallied strongly to a high of 25,416.6 before closing. The daily chart printed a bullish candle with a small lower shadow, reflecting sustained upward momentum. Overall, the index has broken higher again after consolidation, maintaining solid bullish energy. Trading today will focus on establishing long positions during dips, complemented by short selling at resistance. Resistance is anticipated at 25,550-25,700, while support levels are at 25,250-25,150.
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