［Ｍｏｒｎｉｎｇ Ｓｅｓｓｉｏｎ］Ｂｕｌｌｉｓｈ Ｓｅｎｔｉｍｅｎｔ Ｒｅｍａｉｎｓ Ｕｎａｂａｔｅｄ， Ｇｏｌｄ Ｃｏｎｔｉｎｕｅｓ ｔｏ Ｂｒｅａｋ Ｎｅｗ Ｈｉｇｈｓ

Gold:

Gold has continued its upward trend, and so far, the gold price has approached the important threshold of $4,000. Ray Dalio, founder of Bridgewater Associates, once again recommended allocating 15% of assets to gold in investment portfolios, stating that gold currently has stronger safe-haven properties than the US dollar.

Executives at Bank of America (BofA) believe that if the current gold bull market can achieve a 400% increase similar to that after 2015, the gold price is expected to break through $5,000. If it can replicate the bull market of the 2010s, the gold price will approach $7,000.

Owen, a senior gold analyst at Zhisheng Research(exclusively invited by Plotio), opines that the credit of the US dollar has been continuously damaged. As a commonly used safe-haven tool, gold, coupled with the US dollar interest rate cut cycle, has been highly sought after by investors.

Technical Analysis：Monthly and weekly charts of gold show a bullish trend.The hourly chart shows a steady upward movement with strong bullish momentum.

On the 4-hour chart, the gold price has been rising steadily along the 13-day moving average. Before breaking below this average, the probability of only a slight correction remains high.

Intraday focus should be on the $3,965 level, which serves as the dividing line between bullish and bearish positions.

Gold hourly chart

Crude Oil:

From April to September this year, OPEC+ accelerated production increases, with a cumulative increase of 1.7 million barrels per day and an average monthly increase of 340,000 barrels per day. Last weekend, OPEC+ announced a production increase of 137,000 barrels per day, and although the pace of production increase has slowed down, concerns about oversupply still linger.

The International Energy Agency (IEA) issued a warning that the global crude oil market will see a surplus of 3.3 million barrels per day in 2026, an increase of 360,000 barrels per day compared with the previous month's forecast. At the same time, it stated that if OPEC+ continues to restore production capacity, the oversupply situation will occur earlier.

Technical Analysis：On the weekly chart, crude oil has been fluctuating downward since the end of September 2023. From the current trend, the volatility range has narrowed significantly, and it is about to face a direction choice.

On the daily chart, the oil price has been fluctuating downward from $77.60 since 19 June, with both high and low points declining. The probability of a further decline in the near term is high, and attention should be paid to the key resistance level of $65 above.

In the past few days, focus should be on the resistance level around $63 above and the support level at $61 below.

Crude oil hourly chart

Copper:

After a short-term sharp rise at the end of September, copper prices have maintained a fluctuating upward trend in the past two weeks, with strong bullish momentum. In the short term, the upward structure remains intact, and the probability of further upward movement is high. Intraday focus should be on the support level of $4.98 below and the resistance level of $5.07 above.

Nikkei 225 :

The Nikkei 225 opened with a gap-up this week and directly surged above 48,000, with the daily chart continuing its upward trend. From the hourly chart, the probability of maintaining a fluctuating upward movement is high. Intraday focus should be on the support level of 47,800 and the resistance level around 48,660 above.

Important Disclaimer:
The above content and views are provided by Zhisheng, a third-party cooperative platform, for reference only and do not constitute any investment advice. Investors who trade based on this information shall bear their own risks.]
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