【HiLo Big Grey's Morning Briefing】10/28 · Diverging signals for gold and crude oil (1/2)
Good Wednesday morning!
This week, the commodities market has produced two major signals pointing in opposite directions. XAU gold dipped to around 3980 but failed to extend its decline, then stabilized and rebounded to around 4000. Low signals have now appeared on both the 12H and daily charts. This is the first higher-timeframe low signal in a support zone since gold began retreating from around 4700 nearly two months ago.
The previous similar low occurred in July, marking another swing low this year. If gold can consolidate around current levels and gradually turn higher, its price action may have a chance to approach the rally seen in August. However, the daily chart is still in a recovery phase. Although gold has reached a potential turning point, a trend reversal is not yet confirmed. In the short term, watch whether it can break through resistance near 4150.
CL crude oil, meanwhile, has produced a daily high signal, in sharp contrast to gold's low signal: one is at a high, while the other has formed a low in a support zone. This is a notable development in this week's commodities market. Whether it foreshadows a larger shift in market direction remains to be seen.
#HiLo大灰哥早报 #黄金 #XAU #原油 #Commodities
Good Wednesday morning!
This week, the commodities market has produced two major signals pointing in opposite directions. XAU gold dipped to around 3980 but failed to extend its decline, then stabilized and rebounded to around 4000. Low signals have now appeared on both the 12H and daily charts. This is the first higher-timeframe low signal in a support zone since gold began retreating from around 4700 nearly two months ago.
The previous similar low occurred in July, marking another swing low this year. If gold can consolidate around current levels and gradually turn higher, its price action may have a chance to approach the rally seen in August. However, the daily chart is still in a recovery phase. Although gold has reached a potential turning point, a trend reversal is not yet confirmed. In the short term, watch whether it can break through resistance near 4150.
CL crude oil, meanwhile, has produced a daily high signal, in sharp contrast to gold's low signal: one is at a high, while the other has formed a low in a support zone. This is a notable development in this week's commodities market. Whether it foreshadows a larger shift in market direction remains to be seen.
#HiLo大灰哥早报 #黄金 #XAU #原油 #Commodities
