In the early session, crude oil shines as peak demand season approaches.


Focus on resistance near $2335 and support near $2300 during the day. Pay attention to resistance near $83.27 and support near $81.

Regarding Gold:

Recently, the strong performance of the U.S. economy and employment has led to a slow decline in U.S. inflation. The Federal Reserve has released hawkish statements, delaying expectations of a rate cut. The market is currently adjusting its "preemptive" trades on rate cut expectations, which will put short-term pressure on gold prices.

On the other hand, if Trump is re-elected as President, his policies such as imposing a 10% tariff on all imported goods, tightening immigration policies, and extending tax cuts may make it more difficult for U.S. inflation to decrease, or even cause a rebound. If the expectation of a rate cut is further delayed, it will suppress gold prices.

Technical Analysis: On the daily chart, the price rebounded from a low position and closed with a bullish candle in the previous trading day, indicating some support from below. However, the price is still operating below the 20-day moving average, so be cautious of the risk of gold prices falling again. Intraday, watch for resistance at the $2335 level and support at the $2300 level.

Regarding Crude Oil:

Data from the U.S. Energy Information Administration shows that U.S. commercial crude oil inventories increased by 3.59 million barrels to 460.696 million barrels, and total gasoline inventories increased by 2.66 million barrels to 233.886 million barrels. This indicates that the U.S. is still in a "stockpiling" phase, which will limit short-term oil price increases.

However, in the third quarter, OPEC+ oil-producing countries continue to maintain production cuts, and summer is the traditional oil consumption season in the U.S., which provides support for rising oil prices. Additionally, some institutions predict a global oil supply gap of more than 1.3 million barrels per day in the third quarter. Coupled with ongoing geopolitical tensions, there is still an opportunity for oil prices to rise.

Technical Analysis: On the daily chart, prices continued to rise and closed with a bullish candle in the previous trading day, indicating strong oil prices recently. However, from a pattern perspective, prices have not yet effectively broken through the recent consolidation range. Be cautious of the risk of oil prices falling. Intraday, watch for resistance at the $83.27 level and support at the $81 level.

[Important Disclaimer: The above content and opinions are provided by the third-party cooperation platform Zhisheng for reference only and do not constitute any investment advice. Investors should operate based on their own risk analysis.]

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End



Investing refers to the act of allocating funds or other resources into certain assets or projects with the expectation of obtaining future returns or benefits. The primary aim of investing is usually to enhance asset value, achieve financial goals, preserve and grow value, or accomplish a specific objective.


Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.


Contact Us

Social Media