Gold Market Trend Analysis

On August 22nd, gold opened slightly higher at the 3349 level yesterday, initially rising to touch around 3352 before strongly retreating. During European trading, it touched a low of 3325 before surging higher, and during US trading, it reached near 3348 for consolidation. The daily candle ultimately closed at the 3338 level, forming a hammer pattern with a long lower shadow.

Yesterday's volatile surge to 3352 followed by decline indicates obvious pressure in the 3355-3365 area. When encountering this zone again, shorting should be the primary approach. Friday's key focus will be the Federal Reserve Chairman's speech at 22:00, to see if September rate cut expectations align with market sentiment. After all, the market is widely expecting a 50 basis point rate cut currently. Gold has recently failed to effectively break through the key resistance of 3355-3365, indicating that market rebound momentum remains limited and is overall in a consolidation pattern. Operating within the current range, the primary support below is near 3320, and if breached, it may further probe the 3300 level.

The 4-hour trend is notably weak, with 3365 resistance above remaining significant. Gold needs to stabilize above 3320-3325 to potentially regain upward momentum, otherwise it will continue to be dominated by consolidation in the short term.

Overall, today's gold short-term trading approach should focus on buying on dips with secondary emphasis on selling on rallies. Key resistance above to watch is the 3365-3375 level, while key support below is the 3320-3310 level.

Trading Strategy: Short on rebounds to 3360-3365, defend at 3375, target 3330-3320. Long on pullbacks to 3320-3325, defend at 3310, target 3345-3365

The above views are for reference only, specific operations should be based on real-time market prices.

Crude Oil Market Trend Analysis

The US crude oil market opened at 63.64 yesterday, initially surging to touch 64.26 before strongly retreating. The daily low touched 63.29 before surging higher, with the daily high reaching 64.46 before consolidation. The daily candle ultimately closed at 64.24, forming a moderate bullish candle with a lower shadow slightly longer than the upper shadow.

From the daily chart perspective, crude oil has posted seven consecutive trading days of bearish candles, with oil prices breaking below the lower boundary of the previous consolidation range, indicating a medium-term subjective downward trend. The moving average system has not yet formed a bearish alignment, with the medium-term objective trend in a transition period. From a momentum perspective, the MACD indicator is gradually crossing below the zero axis, with bearish momentum gradually strengthening. Crude oil is expected to enter a medium-term downward trend. Short-term (1H) crude oil movement shows consolidation and upward movement from the range bottom, with Asian early trading operating near the range upper boundary around 63. The moving average system shows bullish alignment with short-term objective upward trend, but this is range-bound upward movement as the larger range has not been broken. The MACD indicator is above the zero axis with bullish momentum holding advantage. Intraday expectations await breakthrough of the range upper boundary for crude oil to further open upward space.

Overall, today's crude oil trading approach should focus on buying on dips with secondary emphasis on selling on rallies. Key resistance above to watch is the 65.0-66.0 level, while key support below is the 62.0-61.0 level.