Gold experiences afternoon oscillation with a slight weakness, maintaining a high-altitude bearish outlook

Author: Gold Miner Old Cat

In the morning, gold surged as expected and then pulled back, touching a low of 4668, completing the pullback target. The current price hovers around 4690 in a narrow range, with the resistance levels at 4708-4715 still effective. Overall, it remains in a high-level, weak oscillation pattern.

From a technical perspective, the 1-hour Bollinger Bands are narrowing, with the upper band at 4708 acting as strong resistance, and the lower band support around 4670. Moving averages are converging, and indicators are neutral. In the short term, there is a lack of directional momentum, and the oscillation remains biased bearish.

In the afternoon, focus on shorting opportunities, paying attention to resistance in the 4700-4708 range. Place stop-loss orders above 4715, with targets around 4680-4668. If a breakout occurs above 4715, wait for a pullback to 4705-4700 before considering a short-term long position, aiming for above 4730.

⚠️ The above is only a personal analysis and does not constitute investment advice. The market carries risks; proper risk management is essential. #黄金