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7.31 Gold plummeted and crude oil surged latest market trend analysis and exclusive operation suggestions today
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: Analysis of the latest market trends of gold plummeting and crude oil surges and exclusive operation suggestions today." Hope it will be helpful to you! The original content is as follows:
Same market, different guidance, different life. The characteristic of novices is that they do not understand technology and enter the market blindly. They only consider one issue each time they trade: they think that as long as they predict the market's rise and fall, they can make this transaction. This approach of focusing on direction and ignoring position has caused traders to fail. In fact, there is a big difference between the "momentum" and the "direction" that follow the trend, because the direction of the market's movement is in a volatile pattern, and the market trend is often global. What I can do here is to help you control your position reasonably, place orders using support and resistance levels, so that every order has reasonableness and traces to follow. The buying and selling points should not enter the market at will, please be responsible for your own funds. If you really can't grasp the market, you can xmserving.come to find me. There will be no loss for you if you have an extra analyst. Always remember one thing: professionals do professional things, and all practical things are only for profits, and cooperation is only for win-win results.
Analysis of the latest gold market trends:
Analysis of gold news: The gold market encountered a "Black Wednesday", with spot gold falling by more than 1.5% in a single day, and the intraday low reached US$3,268.02 per ounce, setting a new low since June 30. The Federal Reserve kept interest rates unchanged, Powell's hawkish speech suppressed expectations of interest rate cuts, and the United States released economic data that exceeded expectations, together constituted a "perfect storm" for the decline in gold prices. Meanwhile, the US dollar index rose strongly by about 1%, reaching its highest point since May 29 at 99.99, further exacerbating the pressure on gold. On Thursday (July 31), spot gold rebounded slightly in the early trading of the Asian market. It is currently trading around $3,281.76 per ounce. Investors will also pay attention to the international trade situation and the United States' June PCE data. FridayA non-agricultural employment report will also be released.
Gold technical analysis: Gold bottomed out slightly in the early trading on Thursday, and the current weak situation of gold is beyond doubt, so it is natural to continue to be under pressure and downward. Therefore, I suggest focusing on the top 3300 mark in the day, looking at the oscillation above. As for resistance, pay attention to the area around 3325 first, and secondly focus on the area around 3330. The former is favorable for bears to conduct a secondary low or break low in the short term, while the latter is a short-term reverse strong resistance. Any rebound below is considered a correction. , If the bulls strongly break up, the gold price is expected to return to the 3345-3350 area, and then get the momentum of short-term extension upward. Of course, the possibility of continued rise is not high. After all, in the previous repeated trend, the double-top structure formed by 3345 and 3352 has been confirmed, and the decline last week began from 3438, which means that the high point is gradually moving down. If the gold price falls in a step-by-step downward, then there will be a greater space for decline. We should follow the trend. Overall, in terms of gold's short-term operation ideas today, He Bosheng recommends that rebound high altitudes should be the main focus, and the retracement should be the low long as the auxiliary. The short-term focus should be on the 3305-3315 line of resistance above, and the short-term focus should be on the 3265-3255 line of support below.
The latest trend analysis of crude oil:
Crude oil news analysis: In the early trading on Wednesday, Brent crude oil futures rose 0.19% to $72.65 per barrel; US West Texas Intermediate crude oil (WTI) rose 0.03% to $69.23 per barrel. Both contracts closed at their highest levels since June 20 on Tuesday. Trump said on Tuesday that if Russia does not push for an end to the conflict within the next 10-12 days, the United States will implement measures including imposing 100% secondary tariffs on Russian trading partners, a move that is significantly ahead of the previous 50-day grace period. ING analysts pointed out: "If the 100% secondary tariff xmserving.comes into effect, the oil market will undergo drastic changes, and many major buyers, especially important trading partners of the United States, will be unwilling to continue purchasing Russian crude oil." Analysts believe that even if OPEC+ gradually relaxes production cuts, the market may still have a supply and demand gap in the worst case. The core factor of this round of oil price increases is that expectations of supply tightening have been dramatically amplified. The Trump administration has shortened its deadline for Russia and increased policy pressure on major importers, especially Asian countries and India.
Crude oil technical analysis: From the daily chart level, the medium-term trend fluctuates upward test around 78, the K-line closes to a large physical negative line, oil prices repeatedly cross the moving average system, and the medium-term objective trend direction fluctuates. But the subjective direction alternates according to the primary and secondary directions, and the direction goes downward. But from the perspective of kinetic energy, the MACD indicator is parallel to the fast and slow line near the zero axis, and the long and short forces are stalemate to each other. It is expected that the medium-term trend of crude oil will remain unchanged. The short-term (1H) trend of crude oil rose sharply, showing a unilateral upward rhythm. The moving average system is divergently arranged upward, and the short-term objective trend direction is upward. The MACD indicator opens upward at a high level above the zero axis, and the bulls perform sufficient momentum. Oil prices fluctuated at a high level in the early trading, relying on the alternation of primary and secondaryRule: Intraday crude oil trend will continue to rise. 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 high-altitude as the auxiliary. The short-term focus should be on the 72.0-73.0 line resistance at the top, and the short-term focus should be on the 68.5-67.5 line support at the bottom.
This article is exclusively planned by gold crude oil analyst He Bosheng. Due to the delay in online push, the above content is personal advice. Because the online publication is timely and the suggestions in the article are for learning reference only, and the risks of operating based on this are at your own risk. No matter whether the views and strategies of the article are consistent with everyone's opinions, you can xmserving.come to me to discuss and learn together! There is nothing difficult in the world, I am afraid of those who are interested. Investment itself carries risks, reminding everyone to identify the authoritative platform and the strong teacher. Fund safety is the first priority, secondly, consider operational risks, and finally how to make a profit.
The above content is all about "[XM Foreign Exchange Platform]: Analysis of the latest market trends of gold plummeting and crude oil surges and today's exclusive operation suggestions". It was 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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