He Bosheng: Gold Consolidates in Narrow Range Awaiting Breakout, Latest Oil Trading Suggestions Today

Gold Latest Market Trend Analysis:

March 18th, Gold News Analysis: On Wednesday morning in Asia, gold prices remained near the $5,000 mark with narrow fluctuations. Currently, market sentiment is clearly cautious, as investors mainly watch amid ongoing tensions in the Middle East and the upcoming Federal Reserve interest rate decision. Regarding geopolitical tensions, no signs of easing have appeared. Market surveys show Israel has confirmed strikes on senior Iranian security official Ali Larijani, while Iran previously ignited a large natural gas field in the UAE, further escalating regional tensions. Meanwhile, U.S. President Trump stated that he does not rule out expanding strikes on Iran’s key export hubs. These events continue to boost safe-haven demand, supporting gold as a traditional safe-haven asset.

Gold Technical Analysis: On the daily chart, gold is trading below the middle band of the Bollinger Bands, with the RSI dropping below 50 into the weak zone. The 5-day and 10-day moving averages are in a bearish alignment, creating short-term strong resistance; rebounds are mainly technical corrections. The 4-hour Bollinger Bands are narrowing, MACD shows decreasing green bars, indicating slowing downward momentum but no signs of stabilization. The 1-hour moving averages are converging, with increased bullish-bearish divergence and clear key levels. Resistance above: $5010–$5025 (core resistance), $5040 (strong resistance). Support below: $4980–$4990 (short-term support), $4967–$4970 (strong support). On Wednesday during the Asia-Europe session, if gold remains pressured above $5010, bears may push to test lower supports; if $4970 holds, a slight rebound is likely, but a break below opens further downside space. Overall, today’s short-term trading strategy suggests mainly shorting on rebounds and buying on dips, with a focus on resistance at $5045–$5065 and support at $4970–$4950.

Crude Oil Latest Market Trend Analysis:

Crude Oil News Analysis: On Wednesday in Asia, WTI crude oil prices hovered around $94. Despite escalating tensions in the Middle East, the rally in oil prices has slowed significantly, indicating a change in market response to geopolitical conflicts. The market is shifting from high sensitivity to marginal dulling, which is one of the key recent changes. Market surveys show Iran has recently targeted oil production facilities in the UAE and Iraq, marking the first direct attack on upstream production since the conflict began. This event temporarily heightened concerns over supply disruptions. However, from the price action, oil has not experienced sustained unilateral gains but has oscillated at high levels, suggesting that risk premiums have already been largely priced in during previous rallies.

Crude Oil Technical Analysis: On the daily chart, oil prices surged above $110 due to macro geopolitical influences. The moving averages are diverging upward, indicating a medium-term bullish trend. The price is oscillating at high levels supported by the upward trend, with strong bullish momentum. The medium-term outlook remains bullish. In the short term (1H), oil prices are repeatedly crossing the moving averages, with a mainly oscillating trend. The range is between $99.60 and $91.00. MACD is near the zero line, with bullish and bearish momentum balanced, suggesting intra-day fluctuations within this range. Overall, today’s trading strategy recommends mainly buying on dips and shorting on rebounds, with short-term resistance at $100.0–$105.0 and support at $90.0–$85.0.