On Thursday, gold rose at the start of the market and fell. On Friday morning, gold try to test the 1900 line. The US Consumer Price Index (CPI) rose 0.6% in May, slightly higher than the expected 0.5% increase. However, after the release of the US inflation data, the U.S. Treasury yield fell, and the U.S. 10-year Treasury yield is currently at around 1.444. The weekly report on the number of initial claims of unemployment benefits in the United States shows that initial claims have declined in the most recent period, showing that inflation concerns have not yet ended. From a technical point of view, gold's daily line closed with a bullish pin bar, and gold continues to reach new short term highs at the beginning of the market. The H4 graphs shows a bullish ladder, and indicators show bullish signals. Overall, prioritise Buy on low on fluctuation zone. The deciding point whether to buy or sell is near 1900.
Resistance：1910-1917-1930
Support：1890-1880-1870
Market Analysis of Crude oil on Friday, June 11, 2021
Crude oil rose on Thursday to its highest closing price since October 2018. OPEC stated in its monthly report that this year's demand will increase by 6.6%, or 5.95 million barrels per day. The forecast remains unchanged for the second consecutive month although the recovery in the first half of this year was slower than expected. The US government lifted sanctions on an Iranian oil official and two other Iranians associated with the oil industry, and lifted sanctions on some entities located in Dubai. From a technical point of view, the daily line of crude oil closed bullish. H4 graph shows that crude oil fell first and then rose as predicted. The upward structure is complete, and the technical indicators are showing a bullish trend. Overall prioritise Buy on low on the fluctuation zone. The deciding point whether to buy or sell is near 70.00.
Resistance：70.00-70.50-71.50
Support：69.10-68.50-67.40
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.