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(1) Analysis: Geopolitical situation remains uncertain, and supply concerns are supporting oil prices at high levels, but expectations of negotiations are limiting further upside potential. A slight strengthening of the US dollar and fluctuations in inflation expectations are restricting bullish sentiment, with no clear signs of tightening on the inventory side. Technically, the price is in a consolidation phase after the previous breakout, with short-term momentum slowing; prices are expected to fluctuate within a range.(2) Key focus: Geopolitical situation, inventory data, US Dollar Index(3) Resistance: 92.00, 93.00, 95.00(4) Support: 90.00, 88.00, 85.00

(1) Analysis: The strengthening of the US Dollar Index combined with the sustained high level of US Treasury yields puts pressure on gold; the delayed expectations of a Federal Reserve rate cut weaken the bullish logic. Although geopolitical risks provide some support, risk aversion sentiment is marginally declining. Technically, the rebound is limited by key moving average resistance, short-term momentum is insufficient, and the overall trend remains weak and volatile. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4550, 4580, 4600 (4) Support: 4500, 4450, 4420;

HSBC initiates coverage on Vertiv for the first time with a "Buy" rating and sets a target price of $325, representing an upside of nearly 18% from the stock's Wednesday closing price of $276.16. HSBC believes that Vertiv is a “pure play” in the data center power and cooling sector, positioning it at the center of the fastest growing segment in the AI supply chain.