Monday, how to view gold?


Technical aspect, daily chart level, RSI around 40 with a death cross, neutral leaning weak, rebound momentum insufficient. MACD: death cross downward, bearish momentum continues. Moving averages: daily 5/10-day moving averages turning downward, short-term bearish alignment. Technical pattern: daily descending wedge consolidation, retreating from high levels, direction awaiting choice.

Trading suggestion: focus on short-term rebounds to short, short around 4620, stop loss above 4650, target 4550.
XAU-0.78%
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