Analysis of the latest gold market today ：
On May 24, in the financial market, the release of important economic data can often trigger market fluctuations. In Friday's session, spot gold hovered at a low level in nearly two weeks. At present, trading is near 2331, because the Federal Reserve's minutes on Thursday morning showed that the expectation of interest rate reduction was delayed, Gold price There was a large number of short selling. In the market yesterday, the trend continued to decline, reaching a minimum of $2326.90, a new low since May 9, closing at 2328, with a cumulative decline of more than $90 in the past two trading days. The data of US initial jobless claims showed strong performance. Investors were worried about the timing of US interest rate cuts and the strong performance of US corporate activities, and short selling sentiment dominated the market.
Judging from the recent trend, the gold trend is in line with Zhijin's operating ideas ， However, from the long-term perspective of the global economy, after gold falls, the future market will also further rise, which is just a matter of time. This is a problem that Zhijin has said many times before. Because 2024 is an election year, geopolitical conflicts continue, and the US debt will increase, In addition, interest rate cuts are bound to come. "Central banks now have a huge appetite for gold, and the purchasing power will never slow down." This is driven by the overall trend of the world, and cannot be avoided. This is why gold has been subject to frequent big ups and downs recently, which is easy to rise but hard to fall.
From the technical point of view, the daily line cycle is continuously overcast, falling below the support near the middle track 2350 in Brin, and the low point has reached around 2330, which is in line with all of Zhijin's predictions in the previous article. At present, the support point of the daily line off the track is around 2280, that is, the previous low point. If the cycle continues to fall, the low point near 2280 will be seen below, but this continuity may not go out this week, In the short term, the unilateral trend of the H4 hour chart cycle is relatively obvious. The moving average system is suppressed at 23382353. Although the H4 cycle has temporarily closed at the bottom with a cross positive line, the low closing, and the rebound is weak, this pattern is still weak. The short-term line needs to follow up in the day, and there is no bottom pattern yet. The support point of the lower track can be referred to as 2315 for short-term operation support, There are many entries at today's low point and above 2320. If there are many breakdowns, you can no longer participate. In this weak position, there is no way to go long directly. It is very risky to go long under extreme weakness. The main idea is to go high. Touching pressure is an opportunity to short, and you should not participate in the middle position as much as possible,
Combined with the trend of the hour chart, gold's recent rise is hopeless, and its decline will continue to be maintained. The daily operation will focus on rebounding high, reaching 2335 in the morning and being empty directly. Watch the market steadily. If it continues to rebound 2347 and then empty again, it will take a good stop loss of 7 points. It focuses on intraday real-time. Welcome to experience, exchange real-time quotes, and pay attention to real-time orders.
Gold resistance level; 2342，2353，2359
Gold support position: 23202315
crude oil Today's latest market analysis ：
In the crude oil market, as investors are prepared for the continuous inflation and interest rate in the United States that may restrain consumer and industrial demand, the oil price is tending to decline. The comments of several Fed officials and expectations for the minutes of Wednesday's Fed meeting weighed on the market. Nevertheless, traders expect OPEC+production cut to provide support. The geopolitical development of Iran and Saudi Arabia has also received close attention. The global spot crude oil market is experiencing weakness. High interest rates and inflation have curbed demand, especially in Europe, while the supply of non OPEC oil producing countries such as the United States is increasing. This may support OPEC+to maintain production reduction at the meeting on June 1. It is expected that the recent decline of crude oil is limited and will soon recover. Do not blindly catch up with the short.
From the perspective of daily structure, after three consecutive days of negative decline, it is understandable that the market rebounded yesterday, but the rebound was too rapid, and the upper pressure average belt was still suppressed, and finally turned back to the state of decline, which further indicates the current helpless state of bulls, that is, in the absence of absolute positive news on the fundamentals, It is difficult for bulls to establish long-term bullish confidence, and a rebound may be just a flash in the pan. This state is expected to remain until the beginning of June, waiting for the OPEC meeting to discuss the production reduction plan before making corresponding reference. In the short term, the U.S. oil company may have been in a low and volatile state. The upper side will focus on the pressure near 77.5 and 78, while the lower side can still lock in the 76 and 75.5 regions along the lower side of the daily line level range.
The current price is around 76.8, so we should not chase short again in this cycle. On Friday, there is only one idea: either support more near 76, or do not trade. According to the weak point, there is a great possibility of shock and slow decline to continue to go to 76. So we should patiently wait for the possibility of 76 support point to do more, and the defense will be placed at 75. The upper space is not easy to say for the time being. If there is a rebound, look at 78, See the rise of 80.
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