Analysis of gold news: In the US market on Tuesday (May 14), spot gold fluctuated and rose within a narrow range, and is currently trading around $2,356 per ounce. Gold prices climbed 0.6% on Friday to close at $2,360.75 per ounce, recording its best weekly performance in five weeks, as recent weak U.S. employment data strengthened expectations of an interest rate cut by the Federal Reserve, driving the rise in non-yield-yielding gold. Investors are currently looking forward to this week’s U.S. Producer Price Index (PPI), Consumer Price Index (CPI) and U.S. retail sales data (commonly known as “scary data”), both of which may have a significant impact on gold prices. .
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2372 first-line resistance at the top and the 2342 first-line support at the bottom.
Analysis of crude oil news: In the U.S. market on Tuesday (May 14), U.S. crude oil fluctuated and fell within a narrow range, and is currently trading at $78.4 per barrel. Oil prices rose on Monday on signs of improving demand from the United States and China, the world’s two largest oil consumers, helping prices rebound from a $1 loss in the previous session. U.S. crude futures rose $0.86, or 1.1%, on Monday to settle at $79.12 a barrel. Brent crude futures rose $0.57, or 0.7%, to settle at $83.36 a barrel. For U.S. crude oil, pay attention to the resistance near the 200-day moving average of 80.09 at the top. If it can regain this position, it will increase the short-term bullish signal. Further resistance is at the 55-day moving average of 81.61. At the bottom, pay attention to the nearly one-month low of 76.89 set last week. Nearby support, if this support falls, it will increase the risk of downside in the market outlook. Further support can be found near the low of 75.76 on February 15. On the supply side, investors are eyeing potential oil supply disruptions due to wildfires in western Canada, and expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia will extend production cuts into the second half of the year are also buoying oil prices. Provided support. In addition, the ongoing war in the Middle East has also provided support for oil prices. This trading day needs to focus on the OPEC crude oil market monthly report, pay attention to the US March PPI data and API crude oil inventory series data, pay attention to the speeches of Federal Reserve officials and news related to the geopolitical situation in the Middle East.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by low and long corrections. Focus on the first-line resistance of 79.6 at the top and the first-line support of 76.6 at the bottom.
Operations need to be done with caution and are recommended for reference only.
