Gold Market Analysis: On February 27, the spot gold price hovered near $5185 per ounce during early Asian trading on Friday. Gold held steady on Thursday as investors awaited the third round of indirect nuclear talks between the U.S. and Iran in Geneva, seeking signs of easing geopolitical tensions. Spot gold remained largely unchanged at $5168.72 per ounce. Analysts noted that gold is attempting to break through the $5200 resistance level; however, the risk of a pullback would increase if an agreement is reached in the near term. Other strategists indicated that despite potential short-term corrections, they still expect gold to climb above $5340.

From a technical perspective, gold experienced a slight rebound in early trading yesterday, briefly surpassing $5200 before retreating. The price subsequently entered a consolidation phase, with the low touching the 5-day moving average near $5160. Based on daily and hourly chart patterns, gold remains in a high consolidation phase. While technical indicators suggest a stronger likelihood of corrective declines, ongoing geopolitical uncertainties continue to support market buying sentiment, creating a complex trading environment. Early session trading is expected to remain volatile. Unless new bullish catalysts emerge from fundamental developments, technical correction pressures may dominate. Key resistance is observed in the $5200-5220 range, while support is seen near the 5-day moving average at $5160-5150. A break below this level could lead to further declines toward $5120-5100, with potential extensions to the 10-day moving average at $5070 and the 20-day moving average at $5000.

Trading Strategy: Conservative traders should adopt a wait-and-see approach during early sessions to avoid uncertainty from unstable market sentiment and passive technical fluctuations. If prices rebound toward $5220 again, consider short positions with adjustments based on actual market movements. Short-term short positions should target partial profit-taking at $5160-5150 with stop-loss adjustments, followed by additional reductions at $5120-5100. Some positions can be held for potential declines toward $5070 and $5000. Overall, the recommended strategy for gold is to prioritize selling on rallies with secondary buying on dips. Key resistance lies at $5220-5250, while crucial support is positioned at $5140-5110.

Crude Oil Market Analysis: During early Asian trading on Friday (February 27, Beijing time), U.S. crude oil traded near $65.25 per barrel. Oil prices closed lower after volatile trading on Thursday, as investors monitored developments in nuclear negotiations between the U.S. and Iran. Brent crude futures fell 0.14% to $70.75 per barrel, while U.S. crude futures declined 0.32% to $65.21 per barrel. Negotiations faced a stalemate due to U.S. demands for zero uranium enrichment and the surrender of enriched uranium by Iran, initially pushing prices over $1 higher. However, as talks were extended into the following week, reducing the immediate risk of military conflict, prices retreated.

Technical Analysis: Market activity remained cautious ahead of the new round of U.S.-Iran talks scheduled for Thursday, with limited price fluctuations. During the previous session, prices rebounded to a high of $67.1 before pulling back to a low of $65.5. Short positions initiated near $67 yielded modest gains of approximately $0.15, reflecting the market's consolidation pattern. This represents a typical time-for-price adjustment phase, with focus now directed toward the outcome of the renewed negotiations, which will likely determine crude oil's future direction. The expectation is for diplomatic resolution rather than military escalation, with recent rhetoric likely serving as negotiation leverage. In the short term, maintain a strategy of selling on rallies above $67, while monitoring key support near $63. Overall, the trading approach for crude oil emphasizes selling on rebounds with secondary buying on dips. Immediate resistance is observed at $67.0-68.0, with support expected at $64.0-63.0.