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Oil 102.889
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UK Treasury: Chancellor of the Exchequer Reeves is expected to announce a series of major reforms to give Parliament the power to approve key energy projects.The three major A-share indices continued to strengthen in the afternoon, all turning positive, with the ChiNext index rising by 0.6% and the semiconductor sector surging again.Futures News, May 20th: Economies.com analysts latest view: Spot gold prices continued their recent decline in intraday trading, remaining below the key support level of $4500, further confirming the validity of the bearish breakout and the continuation of selling pressure in the short term. Spot gold is also currently below its 50-day exponential moving average (EMA50), a technical signal that continues to exert negative pressure and reinforces the current downtrend. Since breaking below the major short-term uptrend line, the bearish outlook for spot gold has further strengthened, indicating that market dominance has shifted to the bears. Furthermore, momentum indicators such as the Relative Strength Index (RSI) continue to release negative signals, suggesting that with selling momentum dominating, the probability of further declines in spot gold prices remains high.May 20th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices have been fluctuating within recent intraday ranges, attempting to accumulate more upward momentum to help break through the stubborn resistance level of $104.00. Currently, the price is finding solid technical support trading above the 50-day exponential moving average (EMA50), further solidifying the stability of the main bullish trend. Meanwhile, the price is moving along the primary and secondary uptrend lines, providing strong support for this positive movement. On the other hand, the negative signal from the Relative Strength Index (RSI) is limiting the prices ability to rebound further, which explains the current volatility and suggests that the market may maintain a cautious trading atmosphere until the price gains sufficient buying momentum to break through the aforementioned resistance level.May 20th, Futures News: Economies.com analysts latest view: Brent crude oil futures have been fluctuating within a range recently, while preparing to challenge the strong resistance level of $109.00. Prices remain supported by trading above their 50-day exponential moving average (EMA50), further solidifying the stability of the short-term bullish trend, while the upward trendline provides strong support for this positive structure. Furthermore, the Relative Strength Index (RSI) is releasing positive signals after the previous overbought conditions eased, leaving more room for prices to test higher resistance levels in the short term.

Technical Analysis

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