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London Gold Closes Early! Precise Positioning Before the Close
Hello everyone, I am Old Cat from Juejin. Today, London Gold closed early, experiencing a one-sided surge in the intraday session. After the opening this morning, prices soared and broke through the previous consolidation range, reaching a high of 4690. Currently, it is oscillating around 4674. After midnight, as the market approaches the early close, the trend converges, maintaining a high-level operation overall.
On the news front, expectations of global central bank easing are heating up, geopolitical safe-haven funds are flowing in, coupled with a weakening dollar. Multiple positive factors are resonating to push gold higher. Currently, market sentiment is high. Due to liquidity contraction from the early close, short-term profit-taking is cautious. The medium- to long-term easing environment still provides solid support for gold.
Technically, gold prices broke through the previous consolidation upper boundary, with moving averages in a bullish alignment. MACD is above the zero line with increased volume, indicating strong bullish momentum. After a rapid rise, technical correction is needed. Key support levels are at 4660-4665, with core resistance at 4680-4685. The previous high of 4690 remains a strong resistance level.
Strategy-wise, focus on low buy positions. Before the close, consider entering long positions on dips to 4660-4665 with stabilization, with stop-loss below 4655. Targets are set at 4680-4685. If resistance is encountered at 4680-4685, with pressure, consider light short positions with a stop above 4690, aiming for a target of 4668-4670. Liquidity is weaker before the early close, so strictly control position sizes and set proper stops. Avoid chasing rallies or selling in panic.
Disclaimer: This article reflects only the personal views and market analysis of Old Cat from Juejin. It does not constitute any trading advice. The market carries risks; investment decisions should be made cautiously. Investors are responsible for all related risks.