Leng Yijie: Gold on 3.13 shows volatility with opportunities on both sides; crude oil remains bullish

Abstain from deception and falsehood; be guided by facts and truth. Hello everyone, I am Leng Yijie. (Add Teacher Leng for immediate updates on current trading ideas)

Trading is not about effortless profits, but about steadily surviving in the gaps and accumulating your own gains. The market is open over twenty hours a day, but our actual trading time is very limited. Everyone has a different trading system. As long as you find suitable trading opportunities within your system and seize them, riding the trend to make profits—that is perfect trading.

Students’ capital and trading psychology vary. But regardless of the amount of funds, clients should not disturb their minds with gains or losses after entering a trade, losing the ability to follow technical analysis and trading rules. We must keep realistic expectations about the market and profits, as the investment market is very pragmatic. Whether earning a lot or a little, maintain a calm mindset. Especially during the learning phase, do not let market fluctuations disturb your emotions.

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Gold yesterday experienced a weak decline, sharply falling near an important trend line, then seeking a reasonable upward push. Based on today’s main framework, the bulls are likely to test the previous high-volume trading zone or push up to the upper edge of the triangle consolidation. The 34-day moving average is still rising but is far from the current price, so today’s movement appears to be a tug-of-war. The range is temporarily set at 5000-5250.

Gold: 【1】 Continue long within 5050-5030, defend at 5000, target 5150-5200-5250, with a breakout towards 5500.

【2】 If 5250 is not broken above, maintain a short position with a downward outlook. Still watch the 5000 range.

Crude oil is oscillating upward, breaking the neckline, successfully establishing a head and shoulders bottom reversal pattern. The moving average system relies on oil prices, with short-term oscillations continuing to rise. The space is moving and consolidating. Stay positive and look for higher prices today.

Crude Oil: 【1】 Buy around 91.5-91.9, defend at 88.5, target 100-120.

This article is by financial analyst Leng Yijie.