Leng Yijie: During the beginning of the 3.8 Golden Week, maintain the upward momentum and don't call a top for crude oil!

Never engage in deception; be guided by facts and truth. Hello everyone, I am Leng Yijie.

Happy weekend! Yijie believes that whether in trading or analysis, there are natural differences in personality between women and men. Most women are more meticulous, and in market analysis, they tend to have sharper perspectives and more rigorous and steady guidance. In the field of analysis, we mostly face ordinary investors. An ordinary investor encounters various technical and psychological issues in trading. Female analysts can be more patient or encouraging when guiding investors’ psychology or dealing with simple and repetitive technical problems. After all, simplicity is the ultimate sophistication! Over the years in this industry, these are the pitfalls for all investors. If you fall into any two of these three, you are basically pushed out by the market. Some insights from my years of experience—whether from colleagues, students, or stories about you or me—are not the point. The important thing is whether you can gain something, feel something, or find help from what I’ve shared. Let’s motivate each other…

Gold Weekly Trend Analysis:

The daily chart shows a high point at 5416, forming a secondary high and a high-level correction. The short-term chart still indicates a oscillating pullback, not a one-sided reversal. The 4-hour chart adjusts from the 5416 high, with a secondary high at 5250 facing some resistance, forming a correction wave pattern. Early in the week, focus on the resistance at 5250. Only if the price breaks below 5250 can it continue upward! The current range is tentatively between 5000 and 5250.

Crude Oil Weekly Trend Analysis:
Crude oil’s strong trend experienced minor oscillations before breaking out to new highs. Prices reached the 92 level, exceeding expectations again! Since February, I emphasized going long at 58.5-59.5-70.5-72 without hesitation, and actively riding the trend. This has been fulfilled as expected! Currently, the bullish momentum is very strong. The 83 level mentioned on Friday has been reached! The market remains bullish; there’s no sign of topping out. Continue to follow the trend early next week, with support at around 87.

This article is by financial analyst Leng Yijie.