Goldfish Forecast for Next Week

Over the weekend, various kinds of news continued to build momentum, and market sentiment remains full of uncertainty. The price action is very likely to enter a choppy range with ups and downs. Even if the market opens higher in the early session, it will most likely stay in a relatively weak, sideways-oscillating pattern!

Last week’s “Golden Week” weekly candle closed as a doji. The chart remained in a low-range consolidation throughout, with the price’s center of gravity continuously drifting lower. There is a possibility of breaking below the range of the previous consolidation box. In the short term, the gold price is being suppressed by multiple moving averages, and the weak downward trend is clear. The key resistance zone is concentrated around 4570-4580!

The daily chart is gradually forming a descending triangle pattern. If the short-term support level is effectively broken, the gold price may start a rapid downward move. The market will close early on Monday, and trading liquidity will be relatively weak. Combined with the weekend’s concentrated impact from the news cycle, short-term price volatility will increase noticeably. During trading, be sure to manage risk properly!

Even if the market opens higher on Monday, if there isn’t sufficient buying power to drive the move higher and upside potential is limited, the overall market will still maintain a weak, oscillating rhythm!

Trading reference: If the gold price pulls back into the 4480-4500 range, you may consider entering long positions with a light position size. In the short term, look for upside toward around 4560. After a breakout, expect further upside toward the 4600 area! #黄金 $XAUT