Analysis of gold news: On Wednesday (May 15), the rebound momentum of international gold’s opening slowed down, but there are still expectations of strength again. On the daily chart, the U.S. dollar index shot higher and then fell back down, still running below the mid-range and short-term moving averages, giving the short side the upper hand and making its trend mainly bearish and falling back, which continued to support the price of gold, and the weekly chart did not break through 5 The weekly moving average resistance still tends to be weak and will also provide support to the price of gold. Therefore, in the short term, the price of gold will still fluctuate or strengthen again. During the day, we will focus on the annual and monthly CPI rates in the United States in April, as well as the monthly retail sales rate in the United States, etc. The market is expected to be generally positive for gold prices, although the PPI data released yesterday suggests that CPI will heat up. , there is a risk of being bearish on the price of gold, but the trend did not fall back and closed down in the end. Therefore, even if the evening data shows that inflation is rising again, the pressure on the price of gold will be limited, and the trend can still be lower and rebound after the fall.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2405 first-line resistance at the top and the 2375 first-line support at the bottom.
Analysis of crude oil news: In the U.S. market on Wednesday (May 15), U.S. crude oil bottomed out and rebounded, currently trading around $78.8 per barrel. Oil prices closed lower on Tuesday. In the early morning, API inventory data showed that crude oil inventories were unexpectedly lowered than expected. Oil prices rebounded and recovered part of the day’s decline. Overall, oil prices are still operating in a weak shock. The downward support is still effective, but the upward drive is insufficient. . OPEC released its monthly report, maintaining its forecast for global oil demand growth in 2024 at 2.25 million barrels per day. After deciding not to publish OPEC oil demand, the monthly report released a forecast for OPEC demand (DOC), predicting demand for DOC crude oil in 2024 to be 43.2 million barrels per day. It was emphasized that despite some downside risks, global economic growth still has further upside potential in 2024. It also judged that the performance of oil demand in the first quarter was better than expected, and the first quarter data was slightly raised. Objectively speaking, we can understand OPEC’s view from the perspective of oil-exporting countries, but this is obviously inconsistent with the relevant data of the EIA. More importantly, based on the performance of high-frequency indicators in the crude oil market, the market does not agree with this. the opinion of. Oil prices rebounded briefly after the OPEC monthly report was released, and then continued to fall, continuing the weak and volatile pattern. In addition, OPEC member states are having a heated debate on increasing their own production capacity, and coordinating internal differences has made it more difficult to extend production cuts. The market currently has different views on whether the OPEC alliance can make a decision to extend production cuts at the ministerial meeting in June. The current oil price is in a relatively moderate area that is acceptable to both supply and demand. Therefore, it seems that everyone is in no rush to draw a conclusion. There is still time to wait for the final boots to fall. During the shock stage, pay attention to the rhythm and participate with caution.
Today’s crude oil strategy: It is recommended to focus on the rebound to high altitudes, supplemented by the callback to lows and longs. Focus on the first-line resistance of 77.0 at the top and the first-line support of 80.0 at the bottom.
Operations need to be done with caution and are recommended for reference only.
