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5.29 Gold continues to fall crude oil fluctuates and rises today's market trend analysis and latest exclusive operation suggestions
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: 5.29 gold continues to decline and crude oil fluctuates and rise today's market trend analysis and the latest exclusive operation suggestions". Hope it will be helpful to you! The original content is as follows:
The recent market rises and falls, and the frequent long-short conversions are frequent. Many investment friends are caught off guard, or don’t know where to start. They fall as soon as they buy, rise when they exit, and return consecutive losses. In fact, this is a situation that many novices will encounter. Let me tell you here that first of all, don’t operate frequently when doing trading, and secondly, you need to have a precise control of the market and stick to your own trading system. Of course, these are empty talk for some novices. After all, there is no strict trading plan to enter the market. Most of them are chasing up and selling down, which leads to serious losses. If you see the article at this moment, you can consult yourself to xmserving.communicate and help you point out all the problems in making orders, so that you can avoid detours in the process of trading.
Analysis of the latest trend of gold:
Analysis of gold news: On Wednesday (May 28), spot gold turned from rising to falling, and the day's roller coaster fluctuated. Currently trading around $3,286.34/ounce. Although Trump postponed the 50% tariff on the EU to July 9, the market is still on guard against its repeated tariff remarks. The market is currently waiting for the minutes of the Federal Reserve meeting in the early morning of Thursday, and gold is in a balance between "safe haven bottom" and "policy expectations suppression". If the FOMC minutes release dovish signals (such as emphasizing downward risks of inflation or economic vulnerability), the US dollar pullback may push gold prices to test the resistance above $3,360; on the contrary, if the minutes downplay the urgency of interest rate cuts, gold may fall back to the support of $3,270, and the medium-term trend needs to be paid attention to the US PCE price index released on Friday.
Gold technical analysis: Wednesday morning trading is open to 3313 and look weak, the price rise and rebound stopped around 3315 and began to weaken, and the bears fell as expected. The gold market continued its decline, and prices fell further in the early trading session. Previously, gold prices have not been able to effectively break through the key resistance level of US$3,370, and turned to decline under this pressure. Today, the decline below the previous support level is also within the normal price adjustment range of the market. However, given that the current gold price has gradually approached the strong support area of US$3,290, it is not a wise move to chase short operations at this time. Excessive short-chasing may cause investors to face a greater risk of loss when prices rebound, because near the support level, the market often has bull resistance and there is greater uncertainty in the price trend.
From the 4-hour level chart, the upward momentum of gold is obviously insufficient. After the upper resistance level could not be defeated for a long time, the market fell. Looking back on this week's gold trend, the price has always hovered and fluctuated in the smaller range of $3390 to $3320. In such a narrow range of fluctuations, once a break occurs, it is very likely to trigger accelerated fluctuations in prices, whether upward or downward, which is the concentrated release of the energy accumulated in the market at the moment of breaking. As for the current market situation, the bulls are obviously under great pressure, which is xmserving.completely different from the strong bullish pattern shown by the continuous rise last week. This week's gold trend shows more characteristics of weak fluctuations. Judging from the current market, the 3290s bottomed out yesterday and showed a slight rebound. My personal opinion is that today, the area 3323-3325 will be back-tested above the short term. If a small-level top structure is built in this area, it will continue to fall. Then yesterday's low 3290 has now fallen below, thus further reaching the 3250 line! Overall, in terms of today's short-term gold operation ideas, He Bosheng recommends that rebound short sellers should be the main focus, and pullbacks should be the auxiliary focus. The short-term focus on the 3305-3315 line of resistance above, and the short-term focus on the 3260-3250 line of support below.
The latest trend analysis of crude oil:
Crude oil news analysis: Oil prices rose slightly during the US session on Wednesday, as the US authorization to restrict Chevron's export of Venezuelan crude oil into effect, triggering concerns about tightening supply. According to market research, Brent crude oil futures rose 47 cents to $64.56 a barrel, an increase of 0.73%; the US West Texas Intermediate crude oil (WTI) rose 49 cents to $61.23 a barrel, an increase of about 0.48%. The rise is mainly affected by the latest U.S. government policies. "U.S. President Trump revoked the previous version of the license on February 26 and issued a new authorization to allow Chevron to maintain its assets in Venezuela, but not export crude oil or expand related businesses." In addition, the rebound in oil prices on Wednesday also partially made up for the decline in the previous trading day. Previously, there were no signs of breakthroughs in the fifth round of nuclear negotiations between the United States and Iran. The market is worried that if the two sides reach an agreement, Iranian crude oil may return to the market, exacerbating supply pressure. In the short term, market volatility may intensify the dominance of Middle East crude oil in the global supply system. In addition, if OPEC+ maintains the pace of production increase and the relationship between the United States and Iran breaks the ice, oil prices will beThe space for the road may be limited.
Crude oil technical analysis: From the daily chart level, the medium-term trend moving average system suppresses the rebound of oil prices, and the medium-term objective trend direction is downward. After the oil price hits the low point of 55.20, the frequent alternation of bulls and bears formed. From the perspective of the pattern, the prototype of the falling flag-shaped relay appears. Pay attention to the strength of the oil price testing the upper edge of the flag. It is expected that after the medium-term trend fluctuates, it will still fall to the 50 position. The short-term (1H) trend of crude oil returned to the low of around 60 in the previous period, and then obtained support and rebounded. The short-term objective trend direction shows an oscillation rhythm unchanged, with amplitude range between 63.50-60.00. The kinetic energy of long and short people is stalemate between each other. It is expected that crude oil will fluctuate mainly in the range during the day, so the range operation idea will be maintained. Overall, in terms of today's operational ideas of crude oil, He Bosheng recommends that the main focus should be on the low-sinking back, and the rebound should be supplemented by the high altitude. The short-term focus should be on the 63.5-64.5 line resistance at the top, and the short-term focus should be on the 61.0-60.0 line support at the bottom.
The above content is all about "[XM Foreign Exchange Platform]: 5.29 gold continues to decline and crude oil fluctuates and rises. Today's market trend analysis and the latest exclusive operation suggestions". It is carefully xmserving.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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