Leng Yijie: 2.9 Gold continues to look at the strength of wave C rebound, and crude oil remains bullish

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Gold 4-hour chart shows wide-range tug-of-war, currently testing and confirming the peak of the C wave correction. The process involves oscillation and repeated fluctuations. The resistance at the upper Bollinger Band is around 5100-5140. It is expected to continue rebounding tonight, and once it stabilizes above 5140, the gap below will be filled, and gold will once again be unstoppable.

Gold tonight: continue to buy on dips around 4980-4970, with a stop at 4950, targeting 5100-5140. If broken above 5140, look for a return to 5500. If not broken, maintain a high position with short-term shorts.

Crude oil intraday emphasizes continuing to buy on dips after a perfect pullback. After oscillating and consolidating during the day, it is choosing to rise again. It is currently trending higher and remains bullish in the later stages.

Crude oil tonight: buy around 62.0-62.2, with a stop at 61.5, targeting 63.5-65.5.

This article is provided by financial analyst Leng Yijie.