Leng Yijie: Gold hits a big rise as expected on 3.2, follow-up. Crude oil mid-term long positions successful.

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Gold last week continued to rise from 5120-5140! Today, Monday, it surged again! Stimulated by news, it broke the previous correction pattern and retested highs, with a second attempt to reach the previous upper shadow line, showing a double surge. After continuous consolidation and correction on the 4-hour chart, it further surged, breaking the 5240 support/resistance level, indicating a second upward move in technical structure, not reaching new highs but weakening slightly, aided by news stimuli. Short-term, there are signs of further highs, with focus on the previous high of 5500-5600 this week.

Gold: 【1】Buy around 5300-5310, stop loss at 5280, target 5500-5600.

【2】Last week, I emphasized holding the mid-term long from 5120-5140 for further gains!

Oil prices reached the target of 68.0-69.0 last week! Prices rose above 70. The moving average system is in a bullish alignment, MACD is above zero and expanding upward, indicating a strong trend. Continue to follow the bullish strategy today, consistent with my weekend outlook.

Crude Oil: 【1】Buy at 68.0-69.0, stop loss at 67.5, target 73.0-75.5-78.0.

This article is provided by financial analyst Leng Yijie.