Gold, its era has arrived!
At present, the fundamentals are mainly favorable for gold bulls. From a short-term technical perspective, the 1-hour bullish trend of gold is strong. Today, investors are paying attention to the support area of the 1-hour uptrend line below. If the pullback does not break through the support area of the trend line, they will continue to buy long gold.
① Under the expectation of policy changes during Trump's second term as president, market uncertainty will make safe haven assets more favored.
② Geopolitical risks remain an important driving factor in the gold market, which will continue to provide safe haven for gold.
③ The upcoming release of initial jobless claims and manufacturing PMI data on this trading day will also have a significant impact on gold.
The current fundamentals of crude oil are bullish, and investors are paying attention to the support area of the 1-hour uptrend line below crude oil today.
① Recently, the transit agreement for Russian natural gas through Ukraine has been terminated, and the European Union is facing a tight energy supply situation, which has provided some support for crude oil.
② According to data from the US Energy Information Administration (EIA), there has been a significant increase in demand.
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