{"id":38076,"date":"2026-08-21T19:23:04","date_gmt":"2026-08-21T09:23:04","guid":{"rendered":"https:\/\/www.ad-fx.com\/?post_type=market-overview&p=38076"},"modified":"2026-08-21T19:23:04","modified_gmt":"2026-08-21T09:23:04","slug":"commodities-bulls-exert-force-us-crude-oil-rises-nearly-2-market-eyes-french-sp-global-manufacturing-pmi","status":"publish","type":"market-overview","link":"https:\/\/www.adfxzh.com\/market-overview\/commodities-bulls-exert-force-us-crude-oil-rises-nearly-2-market-eyes-french-sp-global-manufacturing-pmi\/","title":{"rendered":"Commodities Bulls Exert Force, US Crude Oil Rises Nearly 2%, Market Eyes French S&P Global Manufacturing PMI"},"content":{"rendered":"\n

Market Themes<\/strong><\/p>\n\n\n\n

From a cross-asset structure perspective, capital clearly flowed into commodities: Silver rose 1.80%, US Crude Oil rose 2.30%. This differed from the “boosted by a weakening US dollar” pattern on August 19, showing a shift in the main narrative; we tend to observe for another day before confirming its continuity. US Initial Jobless Claims recorded 206K, matching expectations (previous value revised to 212%). Lacking tier-one macroeconomic data releases on today’s calendar, the market may focus more on existing trends and breaking news.<\/p>\n\n\n\n

US Crude Oil rose 2.30%; Silver rose 1.80%; Dow Jones fell 1.28%; USD\/JPY rose 0.56%; Gold fell 0.09%.<\/p>\n\n\n\n

On August 20, US Crude Oil (USOIL) closed higher, closing at 86.911, surging 2.30%. In the Asian session at 22:45, it dipped to around 84.886 before stabilizing, and in the European session at 12:15, it touched 88.321. The 85 mark was lost and then regained intraday. In the short-to-medium term, it stays above both MA5 (84.844) and MA20 (82.426); the long-term moving average MA100 (88.027) forms overhead resistance. Key resistance sits at 90.000\u201390.067 (major round number, Upper Bollinger Band); downside support lies at 84.986\u201385.000 (major round number, 5-day EMA). From a technical perspective, after rising above 88.000 intraday, it failed to hold firm, with a breakthrough yet to be confirmed by the close; short-term structure remains relatively strong, with key focus on whether it can reclaim this level.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Overnight, it also strengthened in tandem: Silver (XAGUSD) closed at 68.102, up 1.80%. In the European session at 12:00, it dipped to around 65.624 before stabilizing, and in the US session at 15:15, it touched 68.979. The 66 mark was lost and then regained intraday. Key resistance sits at 70.000 (major round number); downside support lies at 66.000\u201366.049 (round number, Fib 23.6%). From a technical perspective, short-term upside momentum strengthened significantly; if it can further break through key resistance above, medium-to-short-term upside space is expected to open up further.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Weakening on the same day, Dow Jones (DJ30) fell 684.0 points, closing at 52,812.9, down 1.28%. In the Asian session at 06:30, it rallied to 53,547.9 before weakening, and in the US session at 20:15, it pulled back to 52,765.4. The 53,000 mark was lost intraday. Key resistance sits at 53,372.1\u201353,415.5 (5-day SMA, last month high); downside support lies at 52,481.3\u201352,500.0 (major round number, 55-day SMA). From a technical perspective, after rising above 53,500.0 intraday, it failed to hold firm, with a breakthrough yet to be confirmed by the close.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

USD\/JPY (USDJPY) closed at 159.045, up slightly by 0.56%. Immediate resistance sits at 159.173 (day high); key resistance at 159.556\u2013159.695 (previous day high, Fib 50.0%); downside support lies at 158.000\u2013158.050 (round number, previous day low).<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Gold (XAUUSD) fell 4.2 points, closing at 4,519.65, down slightly by 0.09%. Immediate resistance sits at 4,540.91 (day high); key resistance at 4,595.24 (60-day high); downside support lies at 4,450.00\u20134,450.63 (round number, day low).<\/p>\n\n\n\n

Key Levels<\/strong><\/p>\n\n\n\n

XAUUSD<\/strong> \u2014\u2014 Resistance: 4,595.24 (60-day high) \/ 4,750.00 (major round number) \/ 4,850.00 (round number); Support: 4,450.00\u20134,450.63 (round number, day low) \/ 4,310.92 (previous week low) \/ 4,200.00\u20134,204.11 (round number, Fib 61.8%)<\/p>\n\n\n\n

XAGUSD<\/strong> \u2014\u2014 Resistance: 70.000 (major round number) \/ 73.000 (round number) \/ 77.000\u201377.004 (round number, 60-day high); Support: 66.000\u201366.049 (round number, Fib 23.6%) \/ 62.978\u201363.000 (round number, previous week low) \/ 54.766 (60-day low, last month low)<\/p>\n\n\n\n

USDJPY<\/strong> \u2014\u2014 Resistance: 159.556\u2013159.695 (previous day high, Fib 50.0%) \/ 160.946\u2013161.017 (round number, 55-day SMA) \/ 163.941\u2013164.000 (round number, 20-day high); Support: 158.000\u2013158.050 (round number, previous day low) \/ 157.508\u2013157.623 (last month low, previous week low) \/ 155.218 (20-day low, 60-day low)<\/p>\n\n\n\n

DJ30<\/strong> \u2014\u2014 Resistance: 53,372.1\u201353,415.5 (5-day SMA, last month high) \/ 53,500.0\u201353,547.9 (round number, day high) \/ 54,795.0 (20-day high, 60-day high); Support: 52,481.3\u201352,500.0 (major round number, 55-day SMA) \/ 51,500.0\u201351,502.9 (round number, 20-day low) \/ 50,500.0 (round number)<\/p>\n\n\n\n

USOIL<\/strong> \u2014\u2014 Resistance: 90.000\u201390.067 (major round number, Upper Bollinger Band) \/ 93.919\u201394.000 (round number, last month high) \/ 98.729 (60-day high); Support: 84.986\u201385.000 (major round number, 5-day EMA) \/ 77.857\u201377.897 (200-day SMA, previous week low) \/ 74.423 (20-day low)<\/p>\n\n\n\n

So far this week, Silver is up 5.30%, Gold is up 3.31%, USD\/JPY is down 0.20%, and Dow Jones is down 1.70%.<\/p>\n\n\n\n

Gold’s trading range this week is 4,324.60 \u2013 4,540.91, with the current close located in the upper area of the range.<\/p>\n\n\n\n

From a medium-term structural view, Gold is currently above its 20-week moving average (4,389.58, approximately five months) and remains above its 100-week moving average (approximately two years); the medium-term trend remains intact.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Economic Data Review & Outlook<\/strong><\/p>\n\n\n\n

Overnight Data<\/strong><\/p>\n\n\n\n

US Initial Jobless Claims recorded 206K, matching expectations (previous value revised to 212%); Philadelphia Fed Manufacturing Index recorded 47.4, above expectations; Philadelphia Fed Employment data recorded 27.9, above expectations; Japan Trade Balance recorded -634.5B, below expectations (previous value revised to -409.9%).<\/p>\n\n\n\n

Today’s Focus<\/strong><\/p>\n\n\n\n

Today, the market first focuses on French S&P Global Manufacturing PMI.<\/p>\n\n\n\n

Why it matters: A leading economic indicator reflecting corporate expansion and contraction.<\/p>\n\n\n\n

    \n
  • French S&P Global Manufacturing PMI \u2605\u2605:<\/strong> Forecast 50.1 \uff5c Prior 49.8<\/li>\n\n\n\n
  • French S&P Global Services PMI \u2605\u2605:<\/strong> Forecast 49.6 \uff5c Prior 49.6<\/li>\n\n\n\n
  • German S&P Global Manufacturing PMI \u2605\u2605:<\/strong> Forecast 53.6 \uff5c Prior 52.2<\/li>\n\n\n\n
  • German S&P Global Services PMI \u2605\u2605:<\/strong> Forecast 51.2 \uff5c Prior 49.8<\/li>\n<\/ul>\n\n\n\n

    If the French S&P Global Manufacturing PMI significantly deviates from expectations, it may first affect the Euro, with short-term transmission to other major currencies through interest rate expectations.<\/p>\n\n\n\n

    Disclaimer:<\/strong> The above content represents general market information and data review only and does not constitute any investment advice, recommendation, or offer to buy or sell. CFDs and other leveraged products carry high risk and may lead to losses exceeding your initial investment. Past performance is not indicative of future results; please evaluate carefully according to your own circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Market Themes From a cross-asset structure perspective, capital clearly flowed into commodities: Silver rose 1.80%, US Crude Oil rose 2.30%. This differed from the “boosted by a weakening US dollar” pattern on August 19, showing a shift in the main narrative; we tend to observe for another day before confirming its continuity. US Initial Jobless […]<\/p>\n","protected":false},"author":2,"featured_media":0,"template":"","class_list":["post-38076","market-overview","type-market-overview","status-publish","hentry"],"acf":[],"yoast_head":"\nCommodities Bulls Exert Force, US Crude Oil Rises Nearly 2%, Market Eyes French S&P Global Manufacturing PMI - ADFX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.adfxzh.com\/ms\/market-overview\/commodities-bulls-exert-force-us-crude-oil-rises-nearly-2-market-eyes-french-sp-global-manufacturing-pmi\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commodities Bulls Exert Force, US Crude Oil Rises Nearly 2%, Market Eyes French S&P Global Manufacturing PMI\" \/>\n<meta property=\"og:description\" content=\"Market Themes From a cross-asset structure perspective, capital clearly flowed into commodities: Silver rose 1.80%, US Crude Oil rose 2.30%. 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