Gold Market Trend Analysis: On March 2, gold opened with a strong gap-up on surging risk aversion, with concentrated buying pressure during the Asian session pushing prices close to the $5,400 psychological level, reflecting high market sensitivity to escalating Middle East tensions. Prices have since moderated slightly, trading near $5,330. Continued military strikes by the US and Israel against Iran have significantly heightened regional risks, while Iran's announcement of a suspension of crude shipments through the Strait of Hormuz has further amplified supply disruption concerns. Given that the Strait handles over 20% of global crude shipments, any transport obstruction has a tangible impact on energy markets, leading to a rapid rise in oil prices. The current gold rally primarily reflects a rapid increase in risk premium and inflation expectations, rather than a fundamental shift in long-term trends. Geopolitical conflicts often lead to sentiment-driven volatility, the sustainability of which depends on whether the situation evolves into a long-term supply shock.

Gold Technical Analysis: Last week, gold opened at $5,107.4 and rallied to $5,252. A sharp pullback occurred on Tuesday, with the weekly low touching $5,092.7 before stabilizing and rebounding, resuming a strong, oscillating upward trend. Stimulated by news of the attacks on Iran late Friday, prices surged again, with the weekly high reaching $5,281.2 before consolidation, ultimately closing at $5,280.2. The weekly chart formed a solid bullish candlestick with a long lower shadow, confirming a clear bullish trend. On the 4-hour chart, prices show a step-like ascent with moving averages in a bullish alignment, indicating limited downside as prices hold above short-term averages. The Bollinger Bands are expanding upwards, with prices riding the upper band; a pullback to the middle band presents a buying opportunity. Key short-term support lies at $5,280-$5,300. A hold above this zone suggests potential for further gains, with initial resistance at $5,380-$5,400. A break above this level could open the path towards $5,450. The hourly chart shows consolidation after consecutive bullish closes, with the RSI dipping slightly but not entering oversold territory, indicating that bullish momentum remains intact and a consolidation phase is replacing a deep correction. Strong support below is at $5,260-$5,280; a successful hold here could lead to another upward push. A break below this level would shift focus to secondary support at $5,230-$5,250. Short-term resistance above is at $5,390-$5,420; a break above could lead to further gains. Overall, the suggested strategy for gold today is to primarily buy on dips, with selling on rallies as a secondary approach. Key short-term resistance is at $5,380-$5,430, while key short-term support is at $5,280-$5,230.

Crude Oil Market Trend Analysis: West Texas Intermediate (WTI) crude oil opened sharply higher on Monday, gaining over 5% and quickly breaking above the $72 level before moderating slightly. It is currently trading near $71, showing increased short-term volatility alongside strong bullish momentum. The core driver of this move is the sudden deterioration of the Middle East situation. Military strikes by the US and Israel against Iran over the weekend have escalated regional tensions to a new phase. Subsequently, Iran announced a suspension of transit activities through the Strait of Hormuz. The current oil price increase is fundamentally driven by "risk premium" rather than changes in underlying supply and demand fundamentals. Although OPEC+'s modest production increases provide some buffer to supply, the market remains focused on potential supply disruptions as long as risks to shipping through the Strait of Hormuz persist.

Crude Oil Technical Analysis: From a daily chart perspective, oil prices have risen above $70. The moving average system is in a bullish alignment, indicating an upward medium-term objective trend. Momentum-wise, the MACD indicator is widening 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 then retreated, but the overall trend remains upward. The long upper shadows on the early session candlesticks suggest the continuity of bullish momentum needs further observation. The moving averages are in a bullish alignment, confirming a short-term upward objective trend. Intraday, oil prices are likely to continue their upward movement. Overall, the suggested strategy for crude oil today is to primarily sell on rallies, with buying on dips as a secondary approach. Key short-term resistance is at $72.0-$73.0, while key short-term support is at $68.0-$67.0.