Gold Next Week Market Outlook



Currently, gold price movements are mainly driven by the geopolitical situation in the Middle East involving the US and Iran. The weekend memo brought a brief expectation of peace, but Israel suddenly launched an attack, coupled with tough statements from the US and threats from Iran to block shipping routes, reigniting risk aversion sentiment.
Both the US and Iran find it difficult to reach an agreement, and the subsequent situation is likely to oscillate back and forth, making short-term news unlikely to have a lasting impact on the market!

The 4-hour technical pattern shows obvious weakness, with highs and lows continuously declining, confirming a bearish trend! Short-term resistance is at 4185-4200, with a key resistance level at 4222-4230!

Trading idea: Follow the rebound to go short:
Initially short at 4175-4190 on the rebound, add to the short position at 4225-4235 on the rally, with a stop loss at 4245, and targets at 4150 and 4120. Breakouts continue to hold the position! #黄金 $XAUT
XAUT1.14%
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