Leng Yijie: 3.12 Gold Evening Pullback Right-Side Long, Crude Oil Positively Looking Higher

Absolutely avoid deception and falsehood; stick to the facts. Hello everyone, I am Leng Yijie. (Add Teacher Leng’s current trading ideas immediately.)

Your analysis of support and resistance is recognized, but once you enter the market, you start to panic. Take profits quickly when in profit, and if the market moves against you, panic sets in. Some hold onto the hope that the market will return to their entry point. When you have such trading illusions, your account is in great danger. True investors are tested not only by their technical skills but also by their mindset, which complement each other. Without technical skills, you feel insecure; with skills but unable to handle volatility, it’s all futile. There’s a saying: trading is not lost to the market but to your mindset. The market tests your patience, attentiveness, and greed. Whether you can execute your analysis standards in the market is very important.

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Gold remains in a consolidation phase, with short-term downward momentum. Both bullish and bearish speeds are relatively slow. The current gold market continues to be volatile; intraday trading should avoid chasing highs or selling lows. Patience is needed to wait for opportunities to buy low and sell high. Tonight, expect a range of 5000-5250 with oscillations.

Gold tonight: Maintain the daily analysis strategy, decisively buy around 5120 on pullbacks.

Crude oil fluctuates above the 60-day moving average intraday. Overall, the trend remains bullish. Tonight, maintain the short-term bullish outlook. Crude oil tonight: Continue to follow the bullish trend.

This article is by financial analyst Leng Yijie.