April 29 Gold Evening Review | Wen Jie

Based on today’s morning forecast and the afternoon’s weak downward trend, the bearish dominance in the evening market remains unchanged, with the morning forecast clearly indicating a bearish outlook and a strategy of shorting on rebounds. In the afternoon, gold prices continued to be under pressure, with rebounds showing no strength, repeatedly breaking through key support levels, fully confirming the weak market trend. The strengthening dollar and the cooling of risk aversion continue to suppress gold prices.
Resistance levels: First resistance at 4600, strong resistance at 4620
Support levels: First support at 4550, strong support at 4530, breaking below targets 4500
Short-selling strategy
When gold prices rebound to the 4600-4620 range, enter short positions in batches, with stop-loss set above 4650. The initial target is 4550; if it breaks below, continue holding to see 4530. If it breaks below 4530, reduce positions and watch the 4500 level. #现货黄金 $XAUT