Gold's latest market trend analysis: On March 4, analysis of gold's fundamental drivers: During the early European session on Wednesday (March 4), spot gold edged higher within a narrow range, currently trading around $5166. As conflicts continue, pressures from oil prices, inflation, and the US dollar intertwine; however, gold has never been absent during a genuine major crisis. The gold narrative for 2026 may just be entering its most thrilling chapter. Today, the market will continue monitoring the latest developments in the Middle East conflict, shipping dynamics in the Strait of Hormuz, and the most recent statements from European and US central bank officials regarding the energy shock. At 20:30 Beijing time, the US will release the February ADP employment data and ISM Services PMI, followed by the February ISM Non-Manufacturing Index at 22:00. These releases are key indicators for observing the resilience of the US economy and inflationary pressures. Investors should closely watch for unexpected geopolitical news, as volatility may continue to intensify.

Gold technical analysis: From a technical perspective, the daily chart shows a pattern of rallying followed by a close near the lows and a pullback, indicating a second test of highs meeting resistance. After reaching a high near 5418 yesterday, prices faced selling pressure and closed lower. The trading range was wide, with a single-day bearish candlestick declining over $400. The daily chart's pattern of rallying and closing lower suggests potential for a local correction near the highs, alongside a retracement to fill the upper shadow of the monthly candlestick before encountering renewed pressure. Short-term adjustment needs persist. As temporary fundamental factors are digested, prices are returning to a technical consolidation phase near highs, accompanied by a notable pullback. The 4-hour chart shows a series of bearish candles breaking below the support of the Bollinger Band midline, which also coincides with the short-term uptrend line. This shift indicates a bearish turn on the 4-hour chart, with consecutive declines breaking below the 5200-5250 area, now acting as a resistance zone. Combined with the daily chart's close near the lows, further short-term adjustment appears likely, albeit with potentially choppy and repeated patterns that may include rallies followed by pullbacks. For intraday trading, consider short positions based on resistance near 5200 and 5250, with stops above the midline, targeting 5000-4900. Long positions will be suggested based on real-time market conditions. Overall, the short-term trading strategy for gold today recommends primarily buying on dips, supplemented by selling on rallies. Key short-term resistance levels are 5230-5280, while key short-term support levels are 5120-5070.

Crude oil's latest market trend analysis: Analysis of crude oil's fundamental drivers: During the early European session on Wednesday (Beijing time, March 4), WTI crude oil was trading around $76.60 per barrel. Oil prices surged over 5% on Tuesday as tensions escalated in the Middle East. Israeli and US military forces conducted strikes on multiple targets within Iran, prompting retaliatory attacks by Iran in the Persian Gulf, with the conflict spreading to Lebanon. Driven by the escalation, oil prices jumped over 5%, closing at their highest level since January 2025. Brent crude futures rose by $3.66 to settle at $81.40 per barrel, while WTI crude futures gained $3.33 to settle at $74.56 per barrel. Since the conflict erupted last Saturday, Brent prices have accumulated a 12% increase.

Crude oil technical analysis: From a daily chart perspective, oil prices have risen above $70. The moving average system shows a bullish alignment, indicating an upward medium-term objective trend. Momentum-wise, the MACD indicator is expanding above the zero line, suggesting dominant bullish momentum. The medium-term trend is expected to maintain its upward trajectory. On the short-term (1-hour) chart, prices surged towards $78 before pulling back. Oil prices remain supported by the moving average system, keeping the short-term objective trend upward. However, the MACD indicator shows a bearish divergence forming at high levels above zero, signaling weakening bullish momentum. Intraday, crude oil prices are still anticipated to trend upwards overall. In summary, the trading strategy for crude oil today suggests primarily buying on dips, supplemented by selling on rallies. Key short-term resistance is seen at 78.0-80.0, while key short-term support lies at 75.0-73.0.