Market Analysis of Gold on Friday 25 June 2021
Gold declined 0.4% on Thursday and is currently at $1,777 per ounce. Increase in market risk sentiment and the rebound of the US dollar index put pressure on gold prices. Investors are concerned that the Federal Reserve will tighten monetary policy sooner than expected. Biden's infrastructure plans have shrunk significantly and are currently only two-thirds of the way through, which has a bearish effect for gold in the short term. US negotiators are preparing to resume a seventh round of indirect negotiations with Iran to return to the nuclear deal in 2015. From a technical point of view, gold's daily candle fluctuates at small intervals and loses its direction in the short term. The H4 graph shows that gold is under the middle Bollinger band. At the same time, H1 graph shows that the Bollinger band which was previously sideways started to move downwards. H4 graph shows that the MACD is below the 0 axis. In general, prioritise Sell on the fluctuation zone. The deciding point whether to buy or sell is near 1770
Resistance：1785-1795-1804
Support ：1770-1763-1750
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice
Market Analysis of Crude Oil on Friday 25 June 2021
On Friday Asian session, crude oil is traded at around $72.15/barrel. Oil prices closed with a slight increase on Thursday, and German retail sales showed the biggest increase in more than 30 years, triggering expectations that European fuel demand will recover. At the same time, the EIA report showed that US crude oil inventories decreased by 7.6 million barrels, which was much higher than the market estimate of 3.9 million barrels. This once again confirmed that the market demand is strong. The market is waiting for OPEC+'s upcoming meeting which might discuss increasing oil production. From a technical point of view, the daily candle of oil is closed with doji pattern at high position for 3 consecutive days, dan the market consolidation sentiment is strong. H4 graph shows that 73 is the recent fluctuation zone, and indicator tend to be bullish. Overall prioritise Buy on Low on fluctuation zone. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is near 72.10.
Resistance：73.70-74.10-75.00
Support：72.60-72.10-71.50
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.