Yesterday gold first fell then rose, reaching a low of 4024 during the day before stopping its decline, rebounding to 4118 but unable to break through, then falling back again. In the evening, the market gradually strengthened, and driven by safe-haven news in the early morning, it surged to a high of 4246. However, after reaching the high, the rally weakened, the bulls lacked momentum, and it started to consolidate sideways.

The overall major trend remains bearish; this wave is just a rebound correction after a sharp decline, and the market has not completely reversed. In the short term, the market is mainly volatile, with strong resistance above, so high-level chasing is not recommended.

Trading reference
Price rebounds to 4230-4260, consider shorting in batches, first watch 4200 and 4170, if it breaks below 4170, continue to watch 4150. #黄金