Cheng Jie Dianjin: Gold Narrowly Consolidating Awaiting Breakout, Crude Oil Weakens—Look to Short on Rebounds!

Gold has been fluctuating within a narrow range intraday without any major moves. The short position near 416 during the European session has already yielded some profit! Currently, on the 4-hour chart, it’s consolidating within the 4200-4230 range, with short-term moving averages flattening and converging, but a subtle upward trendline is forming. The pullback during the European session was limited, and the overall consolidation remains relatively strong. On the hourly chart, the short-term moving averages are starting to turn upwards and diverge, so watch for minor adjustments and corrections in the short term.

📌 Gold Trading Recommendation: Go long near 4205-4206, stop loss at 4197.2, target 4220-4245. For real-time updates, follow in-session guidance!

Crude oil is a different story; it dropped directly after the European session. On the 4-hour chart, it has continued to pull back, breaking below the short-term moving averages, which are now starting to diverge downward, indicating clear short-term weakness. On the hourly chart, support has been broken, and the candlesticks are consistently suppressed by the short-term moving averages, maintaining a weak pattern. For the US session, focus on shorting after a rebound and correction.

📌 Crude Oil Trading Recommendation: Set up short positions near 59.6-59.7, stop loss at 60.4; or go long near 58.4-58.5, stop loss at 57.7. Adjust dynamically in real time based on market conditions!