Gold market trend analysis; On Wednesday, as inflation cooled more than expected in March, spot gold rallied more than $20 to a high of $2,028.34 after the data were released, before plunging $27 to just above $2,000. Some analysts believe this will give the Fed room to end its aggressive monetary tightening, even if another rate hike is still on the cards. The Labor Department said Wednesday that its much-anticipated consumer price Index rose 0.1% last month after rising a revised 0.4% in February. The figure was weaker than expected, with the consensus forecast for a 0.2 per cent rise. Core inflation rose 5.6 per cent this year, unchanged from February, the report said. In spite of the fall in headline inflation, some analysts noted that persistently high core inflation continued to highlight an economy in which consumer price rises were entrenched. While reports later this week are expected to show weak retail sales and industrial production in March, job growth remains strong and core inflation remains elevated, it looks increasingly likely that the Fed will press ahead with a final quarter-point rate hike at its next policy meeting. While markets see a strong chance that the Fed will raise interest rates by 25 basis points next month, the initial reaction to the inflation data has sharply reduced expectations. The focus now turns to the Fed’s minutes, due later Wednesday. The Fed minutes will be closely watched for key insights into how policymakers assess the need to raise rates amid the turmoil in the banking sector. The International Monetary Fund said lingering financial system vulnerabilities could trigger a new crisis, but urged member countries to continue tightening monetary policy to fight inflation, with analysts saying higher inflation figures would be negative for gold prices, while weaker-than-expected price figures would boost expectations of interest rate cuts, which would help gold prices. Technical analysis of gold: Gold yesterday from 1988 bottomed out then rebounded above 2000 strong, the highest hit 2007 line with a big Yang break stand on the rail, it means that the market may continue, the market went relatively strong, the United States trading time from 2000 to 1995 after the Yin fell to near 2000 and quickly rebounded to the top of 2000, That’s also because the U.S. economy is slowing down and raising interest rates, news that sent the dollar lower and gave gold room to rally. Waiting for tonight’s big CPI number. The golden day line cycle partially recorded the medium positive, the upward channel maintained well and did not break, can continue to see the upward, the 4-hour cycle locally built a circular bottom shape near 1990, now recorded a series of spindle line shock up the broken medium rail, the afternoon still can continue to see the upward. The gold 4-hour line shows a stepped upward trend, that is, a spiral upward trend, falling down by $35, while the sun line directly rises by $7 or $8, which is an obvious engulf upward trend, and the low point is constantly rising. Moving average running up without any change, continue to move up, the average is also complete deep V form, which is obviously a strong support level, the morning opening price is also a firm above the average, which is clearly to break through the rise, at the same time the evening CPI data is bound to be more gold, the main push positive line up, we now timely adjust the direction of the main back. Gold 1 hour cycle local near the bottom of the stage of 1990 recorded the bottom form of the building of the sun tower, afternoon recorded a series of k line was up. At present, the market as a whole stands firm in the hours of the mid-rail, local market near the mid-rail recorded a bullish engulfed form, the follow-up again near the mid-rail recorded a series of spindle line shock to build a circular bottom, local can see upward. 2005 as the former market long-short conversion more frequent point, according to the polarity conversion principle, can be regarded as short-term support, today can rely on the point to continue to see the upside. In summary, today’s gold short-term operation ideas on Chen Jinhao suggested a pullback to do more, rebound is supplemented by short, above short-term focus on 2020-2025 line resistance, below short-term focus on 1995-1990 line support. Crude oil market trend analysis; On Wednesday, April 12, U.S. crude traded near $82.62 / BBL. Oil prices were near 2% Tuesday as Russia’s plans to cut oil production finally began to materialize, with Russian seaborne traffic falling sharply last week. Crude exports from Russian ports fell by 1.24 million barrels a day last week, the biggest weekly drop since storms hit two export ports in mid-December. That put it below 3 million BPD for the first time in eight weeks, according to tanker tracking data compiled by Bloomberg. Notably, shipments were very high in the previous week, but the less volatile four-week average also declined. Russia had promised to cut production by 500,000 barrels a day from March to June in response to a price cap imposed by the Group of Seven on Russian crude sales; Then in early April, after OPEC+ collectively announced production cuts, Russia announced an extension of its 500,000 BPD cuts until the end of 2023. On Friday, Russia’s energy ministry said that Russian oil production fell by 700,000 barrels a day in March — suggesting that the sharp drop in offshore flows in the coming weeks is likely to continue. Overall, oil prices remained bullish on the day despite lingering demand concerns as Russian production cuts took effect, geopolitical tensions continued and hopes for Fed easing tightening after overnight US inflation data. But keep an eye on the evening EIA data and watch out for increased short-term volatility if further signs of an inventory build emerge. Crude oil technical analysis; Crude oil daily level shock rise; The MACD gold fork is running well, after breaking the zero axis, it continues to diverging upward, the Bollin line continues to open, KDJ dead fork is blocked, the oil price recovered above the 5-day moving average, the oil price of nearly a week’s high shock adjustment may end, the afternoon is expected to continue last Monday’s rally, the initial resistance at the January 23 high near 82.61, The key resistance is near the 200-day average of 83.26, as is the resistance to the near five-month high hit on December 1. A breach of this resistance would add to the midline bullish signal and hopefully open a new upward channel, with a conservative look at the November 7 high near 93.72; In the short term, there is also some resistance around the November 10 low of 84.70. As oil has yet to effectively break through last Monday’s high and the 200-day moving average resistance is strong, we still need to be on guard against the possibility of a pullback. The lower 5-day moving average is supported near 80.75 and then the 80-round mark. Tuesday’s low is supported near 79.36 and the 10-day moving average is supported near 78.80. Weaken short – term bullish signal. In general, today’s short-term operation ideas Chen Jinhao suggested to lower mainly, rebound high altitude, above short-term attention 83.5-84.0 line resistance, below short-term attention 80.0-79.0 line support. This article by gold crude oil analyst Chen Jinhao exclusive planning, thank the majority of readers for Chen Jinhao’s love and support for this article, I hope you can learn from Chen Jinhao’s article and sentiment!