Juejin Old Cat: Gold's High-Altitude Jump Falls, Steady and Unwavering in High-Altitude Thinking

The market will never stop because of your hesitation. Today's gold market once again verifies the importance of following the trend. Early this morning, we clearly outlined the core high-altitude strategy, seeing a target of $5100 directly from the key resistance level at $5370, and the subsequent market movement not only precisely fulfilled this judgment but also showed a decline far beyond expectations.

After the opening this morning, the price briefly surged to an intraday high of $5451, then entered a one-sided plunge mode. After reaching our predicted target of $5100, it did not stop but directly broke below the $5000 integer level, with a low of around $4940. The current quote is fixed at $5051, with a daily decline of 6%, nearly $320 drop, leaving the bulls powerless.

From a news perspective, recent market expectations of the Fed cutting interest rates early have significantly cooled down. Coupled with the continued resilience of US economic data, this has driven US bond yields and the US dollar index to strengthen simultaneously, becoming the core factor suppressing gold prices. Meanwhile, the long profit-taking positions accumulated earlier at high levels have escaped en masse, further intensifying the momentum of this round of decline.

Technically, gold prices have effectively broken below the key support level of $5200. The hourly chart shows a clear bearish arrangement, with the moving averages fully diverging downward, and the MACD indicator continuing to expand below the zero line, indicating that short-term bearish forces still dominate. Although there was a slight rebound after the rapid decline, the strength was weak and did not change the overall downward pattern.

In terms of operation, we continue to adhere to the bearish strategy, recommending short positions within the $5150-$5180 resistance zone, with targets below at $4950-$4900. If the price effectively breaks below this, further targets can be set at $4850. If the market rebounds above the resistance zone, timely adjustments should be made to avoid counter-trend operations.
Disclaimer
This article is only a personal opinion and trading idea sharing from Juejin Old Cat and does not constitute any specific investment advice. Gold trading involves high leverage and high risk. Investors should make independent decisions based on their own risk tolerance and actual situation. Any profits or losses resulting from such operations are not related to the author of this article.