Gold's strategy for today,


The first scenario, crude oil futures reached over 97 around 8:00 AM, and gold prices hit over 4690. If the fundamentals hold and oil prices can stay above 94.95 at a high level, then the evening signals will be clear, and a sharp decline is likely to begin. At 21:30 U.S. market time, there may be a sell-off around 20:00 to 20:30, with the first target testing 4668. There might be a slight rebound here, around 4680. If it continues to fall below, the aggressive target would be 4650, while the conservative approach could be to buy near 4638.
I think the lowest point might be around 4608, but it's unlikely to reach that level unless crude oil futures break above 105.
The second scenario is that at 21:30 U.S. market time, after a sell-off around 20:30 near 4668-4683, a rebound begins, targeting 4700-4720, ultimately forming a sideways consolidation range. The bottom could be a bit lower around 4680 or 4720, or near 4670. The difference from the first scenario is that in the first case, the market shows a downward trend without a significant rebound.
In summary, the evening sell signals have already been released; it's just a matter of whether the slight decline will form a sideways range or directly test the 4600 support violently.
Personal advice, for reference only, trade with stop-loss.
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