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Muyao: Gold remains overall weak and oscillates sideways; trade flexibly within the intraday range
The overall major trend for gold is bearish; rebound strength is very weak, highs keep getting lower. Around 4090 is a strong resistance zone; if price spikes up, it’s likely to drop back.
Currently, the market isn’t moving in one direction; it mainly oscillates with repeated range trading. This is suitable for selling at the top of the range and buying at the bottom.
On rebounds, consider selling near 4050-4060, set defense above 4170, with targets at 4030-4000. If price pulls back to around 4000 and stabilizes, you can lightly go long short-term; look around 4050, with defense at 3990.
Reminder:
The above analysis is Muyao’s personal view. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
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