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Is weekend market activity a risk or an opportunity?
Last Friday, gold traded within a range in the Asian session, weakened and retreated during the European session, then rebounded again in the US session, showing a tug-of-war between bulls and bears overall, with the daily chart closing as a small doji with a slight bearish bias.
On Monday morning, after the opening, gold prices slightly declined. From the daily chart structure, the overall trend remains weak; the key resistance level is at last Friday's high of 4660, with support at 4510.
Today's trading strategy is mainly to go short at high levels, focusing on short positions within the 4635–4645 range.
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