Gold Outlook This Week | Jin Jingwen

Gold experienced a historic one-sided plunge last week. After oscillating at highs at the start of the week, it collapsed due to the Federal Reserve's ultra-hawkish signals, with consecutive level breaks and sharp declines, marking the largest single-week drop in recent years!

International gold prices plummeted from above 5000, hitting a low of 4477, down over 10% for the week; domestic gold declined in tandem, with long positions at higher levels fleeing frantically, completely dominated by short positions throughout with no meaningful rebound.

Next Week's Trend Forecast: Gold prices are likely to continue weak consolidation. Any short-term rebounds are technical corrections, with the short-dominated situation unchanged. Weekly adjustments need to continue, with focus on the impact of core PCE data.

On the broader trend, gold's weekly downtrend is complete, daily MACD shows a death cross, bulls have completely lost momentum. Even if there's a bounce halt and consolidation at market open, it's merely washing and adjusting indicators. Don't expect a trending rally next week—bearish factors are concentrated. Overall remains bearish; for trading, catch rebound highs for shorting, with 4600 as the key resistance level.

For shorts, watch the 4380 support below. If this level holds, you can enter longs on the right side, with rebounds of at least 150 points. Those wanting to pick bottoms can attempt.

Investment carries risks; enter the market cautiously. The above is merely personal analysis and does not constitute investment advice! #Gate13周年全球庆典 #TradFi首创多倍杠杆 #加密行情震荡 #XAU