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SYMBOL
LAST
ASK
BID
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6969.02
6969.02
6969.02
6992.83
6870.81
-9.01
-0.13%
--
DJI
Dow Jones Industrial Average
49071.55
49071.55
49071.55
49292.81
48597.22
+55.96
+ 0.11%
--
IXIC
NASDAQ Composite Index
23685.11
23685.11
23685.11
23840.55
23232.78
-172.33
-0.72%
--
USDX
US Dollar Index
96.510
96.590
96.510
96.590
96.150
+0.540
+ 0.56%
--
EURUSD
Euro / US Dollar
1.19081
1.19089
1.19081
1.19743
1.18947
-0.00621
-0.52%
--
GBPUSD
Pound Sterling / US Dollar
1.37406
1.37414
1.37406
1.38142
1.37248
-0.00687
-0.50%
--
XAUUSD
Gold / US Dollar
5000.69
5001.02
5000.69
5450.83
4941.85
-375.62
-6.99%
--
WTI
Light Sweet Crude Oil
64.939
64.968
64.939
65.611
63.409
-0.313
-0.48%
--
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GOLD PRO TRADER 
3486307 
Once the market knows Trump and the Fed's next policy, gold or silver will fall sharply, especially silver. The Fed has given us a signal, but we don't care if the Fed says gold has risen too high, exceeding its true value.
GOLD PRO TRADER
Size 
GOLD PRO TRADER
my experience 15 year
Size
Could be a good opportunity to scale in cautiously if it shows signs of stabilization@Visitor3486307
Gold Hacker 
Size
Nawhdir Øt 
Size
Nawhdir Øt
Size
闹闹 
It's really going to drop to 5003.
甘大滋啊！ 
I just bought NATGAS and COCOA
Nawhdir Øt
3486307
Usually, the price of gold rises proportionally to inflation, but with inflation at only 2.9%, gold prices have risen far beyond the normal level. This increase in gold prices is due to Trump's erratic policies, not inflation.
Gold Hacker
buy right now
Size
Nawhdir Øt
Size
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
Oil Prices Fluctuate at Highs on Bullish News
Summary:
The oscillation range during the day will be 72.0-74.50, and investors are advised to buy low and sell high.
CLOSED
74.500
Entry Price
72.500
TP
74.800
SL
64.939 -0.313 -0.48%
30.0
Pips
Loss
72.500
TP
74.800
Exit Price
74.500
Entry Price
74.800
SL
Fundamentals
During the Asian session on Wednesday (December 20), WTI crude oil fluctuated to downward in a narrow range and is currently trading around 74.1 dollars per barrel.
Yesterday, oil prices closed with another bull candle, achieving 5 consecutive increases. Oil prices did not retreat too much yesterday, just falling to as low as $72.2 before fluctuating upward. The price in the American session expanded its gains, but it was still below 74.5. On the one hand, the strong oil prices are due to the continued development of the Red Sea attacks which have an impact on the entire global shipping market. As more companies suspend their Red Sea route, the impact on shipping is likely to be extended. On the other hand, the US Department of Energy announced to buy back 2.1 million barrels of strategic petroleum reserves at an average price of $74.23 per barrel, which shows that the current oil price is already a suitable price for the US. Thus, the market has ignored the slight increase of API crude oil stocks announced yesterday.
Judging from the trend of oil prices in the past two days, there are some bearish factors. However, the market is paying more attention to the bullish factors, which largely indicates that the sentiment and fundamentals of the oil market have been reversed. Oil prices are gradually rising, breaking through resistance areas one by one. They are now in the area before the OPEC+ production cut meeting, which is also the upper edge of the mid-year fluctuation range, with huge resistance. In the short term, it is still a bit difficult for the price to break through this area smoothly. The competition between longs and shorts in this range is expected to be fierce.
Although we were bullish o the oil price yesterday, we didn't enter long positions as the price did not pull back to our desired levels. The short positions entered at $74.5 saw small floating profits. We'll continue to hold these positions after breaking even. In the short term, we don't know how long the Red Sea crisis will last. As the Houthis patrol every 12 hours, shipping companies may prefer detouring, using cost in exchange for safety! This may be an important support for oil prices at the end of the year, so it is difficult to see a considerable decline. As there is no new bullish news, it is also difficult see a big rise. Perhaps oil prices will mainly fluctuate upward gradually. In the short term, investors can continue buying low and selling high in a range, and be bullish in the medium term.
News: The US Department of Energy announced the replenishment of petroleum reserves by 2.1 million barrels at an average price of $74.23 per barrel.
Inventories: US API crude inventories unexpectedly rose by 939,000 barrels in the week ended December 15, compared with the decrease of 2.349 million barrels in the previous week.
Today, investors need to focus on the total number of existing home sales for November, the Conference Board Consumer Confidence Index for December, and crude oil inventories, with a focus on the latest U.S. PCE inflation data to be released on Thursday and the final GDP estimate for the third quarter.
Technical Analysis
Yesterday, oil prices turned the 72-72.5 area from resistance to support in the Asia session. They fluctuated upwards after dropping to a low of 72.2. In the American session, the price once rose to 74.5, and finally closed higher, which was the 5th consecutive rise. However, oil prices are still under pressure in the 73.8-74.5 area. If oil prices repeatedly fail to break above that area, we will have to start expecting a pullback, but it will be more of a technical pullback. Support is in the 72-72.5 area, and further support is in the 71-71.5 range.
Regarding the technical side, there is a death cross and a bearish piercing signal in the 1-hour chart, so there is a high probability of an hourly pullback. After 5 consecutive daily increases, the price has broken through the middle Bollinger band and the MACD golden cross continues to widen. Therefore, the daily price is still bullish. During the day, traders can still buy low and sell high in the reference trading range of 72.0-74.5.
Trading Recommendations
Trading Direction: Short
Entry Price: 74.500
Target Price: 72.500
Stop Loss: 74.800
Support: 72.500/70.000
Resistance: 74.500/74.600
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