Market Analysis On May 13, yesterday's fundamental data showed the U.S. April headline CPI year-on-year rate at 3.8%, marking the highest level since May 2023, with the energy index contributing over forty percent of the overall increase. Federal Reserve official Goolsbee described the inflation trend as "disappointing." The U.S. Senate voted to confirm Wash's appointment as a Federal Reserve Governor, with the Chairman nomination vote scheduled for Wednesday local time. Consequently, gold and silver experienced a rally in late trading. Today's key fundamental data to watch includes the U.S. April PPI year-on-year rate at 20:30, followed by the EIA Crude Oil Stocks for the week ending May 8, the EIA Cushing, Oklahoma Crude Oil Stocks for the week ending May 8, and the U.S. Strategic Petroleum Reserve Stocks for the week ending May 8, all at 22:30.

In the gold market yesterday, the session opened at 4735.4, followed by a strong upward move, reaching a daily high of 4773.8 before a sharp pullback. The price then fell to a daily low of 4638.2, but a strong late-session rally ensued, closing at 4714.5. The daily chart formed a hammer-like candlestick with a lower shadow longer than the upper shadow. Following this pattern, after reducing positions on the long trades from 4120 and 4310, the stop-loss is adjusted to 4500. For today, consider going long on a pullback to 4660 with a stop-loss at 4654, targeting 4690, 4710, 4725, 4732, and 4745.

The silver market opened yesterday at 85.683, initially rising to a daily high of 87.223 before facing resistance and pulling back. It then dropped to a daily low of 82.974, followed by a strong rally, closing at 86.493. The daily chart formed a hammer candlestick with an extremely long lower shadow. Given this pattern, the bullish trend is expected to continue today. For positioning, consider going long at 84.5 with a stop-loss at 84.2, targeting 85.7, 86.5, 87, and 87.3. A break above these levels could see targets at 87.6 and 88.

The EUR/USD pair opened yesterday at 1.17820, briefly rising to 1.17875 before experiencing strong volatility and a decline. It reached a daily low of 1.17209 and then consolidated, closing at 1.17399. The daily chart formed a large bearish candlestick with a long lower shadow. Following this pattern, consider going short at 1.17650 today with a stop-loss at 1.17800, targeting 1.17350, 1.17200, and 1.17000-1.16850, then prepare to go long upon exit.

The crude oil market opened yesterday at 98.62, dipped slightly to 98.17, and then experienced a volatile rally, reaching a daily high of 102.93 before consolidating and closing at 102.2. The daily chart formed a large bullish candlestick with a slightly long upper shadow. Given this pattern, if the price pulls back first, consider going long at 100.3 with a stop-loss at 99.8, targeting 101.5, 102.5, 103, 103.5, and 104.

The Nasdaq index opened yesterday at 29305.56, briefly rose to 29352.1, then experienced a sharp decline to a daily low of 28627.42, followed by a late-session rally, closing at 29030.25. The daily chart formed a medium bearish candlestick with an extremely long lower shadow. Following this pattern, consider going short on a rally to 29250 today with a stop-loss at 29300, targeting 29100, 29000, 28900, and 28800.

Operational Recommendations: Gold: After reducing positions on the long trades from 4120 and 4310, adjust the stop-loss to 4500. For today, consider going long on a pullback to 4660 with a stop-loss at 4654, targeting 4690, 4710, 4725, 4732, and 4745. Silver: Consider going long at 84.5 today with a stop-loss at 84.2, targeting 85.7, 86.5, 87, and 87.3. A break above these levels could see targets at 87.6 and 88. EUR/USD: Consider going short at 1.17650 today with a stop-loss at 1.17800, targeting 1.17350, 1.17200, and 1.17000-1.16850, then prepare to go long upon exit. Crude Oil: If the price pulls back first, consider going long at 100.3 with a stop-loss at 99.8, targeting 101.5, 102.5, 103, 103.5, and 104. Nasdaq Index: Consider going short on a rally to 29250 today with a stop-loss at 29300, targeting 29100, 29000, 28900, and 28800.