Today analysis for Nasdaq, Oil, and Gold

NASDAQ
NASDAQ successfully rebounded and closed higher. Yesterday was a day where selling at the 3-day moving average was possible, and after rebounding to the 3-day line, it faced resistance and closed at that level. The rebound appears to be a recovery from the excessive drop on Monday due to overblown concerns about China's Deepseek.

On the daily chart, the MACD remains above the signal line, maintaining a buy signal, which suggests further attempts to rebound are likely. Additionally, today’s FOMC meeting and major corporate earnings reports will be pivotal in determining whether the downward gap created on Monday will be filled.

On the 240-minute chart, the MACD is attempting a golden cross after the sharp drop and subsequent rebound. If the golden cross is not confirmed and the index falls again, it may test the double-bottom level, so caution is advised when chasing a buying position.

However, if the golden cross is confirmed, it would be advisable to adopt a buy-on-dip strategy, as buying momentum remains strong. Today’s primary strategy should be selling at the 5-day moving average resistance level, making it advantageous to sell at resistance areas near the 5-day line. With strong upward momentum and potential pre-market consolidation due to economic data announcements, a box-range trading approach would be ideal.

OIL
Oil closed higher, encountering resistance near the $74 level. The daily chart shows that the 240-day moving average acted as support, with a bullish candle forming as oil prepares for another rebound attempt. The MACD still signals a sell trend, but consistent buying efforts could continue.

As mentioned earlier, even if oil rises, it’s likely to face pullbacks at certain levels. On the 240-minute chart, a buy signal has been confirmed, with a double-bottom pattern forming alongside a lower shadow, indicating a favorable buy-on-dip strategy.

If a strong rebound occurs, prices could rise to the 10-day moving average around $75.50. Selling positions should be avoided for now, with a focus on buy-on-dip strategies. Additionally, be mindful of price volatility due to today’s inventory report.

GOLD
Gold closed higher, supported by the 10-day moving average on the daily chart. The MACD and signal line on the daily chart still show separation, and gold has recovered both the 3-day and 5-day moving averages, making a buy-on-dip strategy effective.

For April contracts, it is crucial to see whether gold can break above $2,815 on the weekly chart and form a bullish candle. Be cautious of increased volatility in gold prices resulting from today’s FOMC meeting outcomes.

On the 240-minute chart, the MACD is on the verge of a golden cross. If gold fails to see additional significant gains, the price could form the right shoulder of a head-and-shoulders pattern. If the MACD fails to build further upward momentum and starts to fall, a third wave of selling could occur, so keeping this scenario in mind is advised.

The clear trend will likely be determined after today’s FOMC meeting, so monitoring gold’s movement after the announcement will be key.

■Trading Strategies for Today

NASDAQ - Range-bound Market
-Buy: 21,520 / 21,475 / 21,410 / 21,375 / 21,290
-Sell: 21,610 / 21,700 / 21,770 / 21,900

OIL - Range-bound Market
-Buy: 73.65 / 73.10 / 72.60
-Sell: 74.60 / 75.00 / 75.50 / 76.00

GOLD - Bullish Market(April)
-Buy: 2,791 / 2,787 / 2,783 / 2,775
-Sell: 2,804 / 2,809 / 2,821

These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.

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