Juejin Old Cat: Gold at 4600 turns into resistance, look for high short and low long opportunities in the afternoon

The morning long idea at 4600 failed, full exit after adding at low positions, switching to high positions with continuous profits. Today, gold opened higher and then retreated, with 4600 shifting from support to resistance. In the afternoon, it remains volatile at low levels. The current quote is 4592.20, down 0.73%.

News: US economic data is relatively strong, the Fed's rate cut expectations have cooled, boosting the dollar. Coupled with weakened geopolitical safe-haven demand, gold remains under pressure in the afternoon.

Technical analysis: After breaking below 4600, the moving averages are in a bearish alignment, with 4600 as a clear resistance. The key support levels are 4590-4585.

Afternoon strategy: Focus on short positions at resistance around 4600, targeting 4590-4585; if it stabilizes below 4580-4585, consider reversing to long positions. Manage positions strictly and set proper stop-losses.

【Disclaimer】The content is for market strategy reference only and does not constitute investment advice. Financial markets are high risk; decision-making is autonomous, and profits and losses are at your own risk.