Gold's Latest Market Trend Analysis: On February 20th, analysis of gold's fundamental drivers: Gold prices continued their upward movement during early Friday trading, hovering near the $5,000 per ounce threshold. Recent tensions between the US and Iran have escalated notably, with former President Trump stating that "something very bad" would happen if Iran fails to reach a nuclear agreement within 10-15 days. Concurrently, data indicates frequent flights of US military transport and refueling aircraft to Middle Eastern bases, further intensifying market concerns over potential military conflict. The core rationale for gold's current ascent lies in heightened geopolitical risk premiums. As long as US-Iran tensions persist, safe-haven demand will provide support for gold prices. However, the Federal Reserve's stance on maintaining high interest rates presents a potential restraining factor. Should upcoming US PCE data come in strong, a technical correction in gold is possible; if inflation shows signs of moderating, the bullish momentum could potentially breach the psychological $5,000 barrier. Market participants should monitor the breakout direction following the data release. From a technical analysis perspective on the daily chart: After a period of consolidation at high levels, gold found support upon retesting the $4,850 area and has shown a technical rebound. Prices continue to trade within an ascending trend channel, indicating the medium-term structure remains intact. Regarding moving averages, the price maintains its position above both the 20-day and 50-day moving averages, which are aligned in a bullish formation, suggesting a solid foundation for the trend. A confirmed break and hold above the key $5,000 level could pave the way for further tests of the $5,030 and $5,060 zones. Momentum indicators show the RSI hovering around 60, indicating bullish momentum retains an advantage without entering extreme overbought territory. The MACD remains above the zero line, though its histogram shows slight convergence, hinting at a potential slowdown in the pace of gains. A breakdown below the crucial $4,900 support level might trigger a short-term retreat towards the $4,850 and $4,800 areas. However, as long as prices hold above $4,900, the medium-term uptrend is considered to remain intact. Overall, for today's short-term trading strategy, the primary approach is to look for buying opportunities on pullbacks, with selling on rallies as a secondary tactic. Key resistance to watch on the upside is in the $5,050-$5,100 range, while immediate support lies between $4,950 and $4,900.

Crude Oil's Latest Market Trend Analysis: Analysis of crude oil's fundamental drivers: During the Asian session on Friday, US crude oil extended its gains, trading around $66.50 per barrel. The primary catalyst is the significant escalation in US-Iran tensions this week. Former President Trump publicly stated that it would be known within approximately ten days whether a "meaningful agreement" with Iran can be reached; otherwise, "bad things" will occur. Previous reports suggested that US military preparations for a strike against Iran were complete, with potential action as early as this weekend. From Israel, Prime Minister Netanyahu emphasized that Israel stands "side by side" with the US, warning that any Iranian military action would face an "unimaginable response." The logic behind crude oil's current rise is clear: a combination of geopolitical conflict risk and substantial inventory draws provides dual support. Trump's imposition of a negotiation deadline has caused the market to price in a higher probability of military conflict upfront, leading to a rapid increase in risk premium. In the short term, oil prices are expected to remain biased to the upside. However, should negotiations show a breakthrough or anticipated military action fail to materialize, prices could quickly relinquish a portion of their gains. Close attention should be paid to US-Iran developments and inventory data changes, maintaining flexibility in response to both the prevailing trend and unexpected news. Technical analysis for crude oil: On the daily chart, price action is gradually suggesting the formation of a potential rounding top pattern. K-lines are beginning to show pressure near the short-term moving averages, indicating a slightly weaker, consolidative bias. While the price is currently trading near a previous support zone, the strength and sustainability of any rebounds have been limited. Caution is warranted for a potential minor breakdown on the daily chart that could lead to a continuation of the downward move. On the hourly chart, the current trading range has compressed significantly; the short-term adjustment and consolidation phase should be monitored. In summary, for today's crude oil trading strategy, the recommended approach is to primarily seek buying opportunities on dips, with selling on rallies as a secondary tactic. Immediate resistance above is focused in the $68.0-$69.0 range, while short-term support below is seen between $65.0 and $64.0.