Looking at the gold price chart trend, earlier the gold price only managed to break out into a brief impulse rally driven by sudden news stimuli. Afterwards, it continued to face technical selling pressure, oscillating and declining. This round of gains is merely a partial corrective rebound within the broader decline; it has not achieved a reversal into a bullish uptrend. Overall, the market is in a weak, sideways consolidation at high levels.
On the macro front, the U.S. dollar index has rebounded after stabilizing, continuing to suppress upside momentum in gold. Today, there are no major U.S. economic data releases, so market fluctuations are mainly driven by technical factors, and it is likely to enter a range-bound “washout” consolidation.
From the four-hour timeframe, the price’s swing highs keep moving lower. With each rebound, the bullish momentum keeps weakening. The bears firmly control the short-term market rhythm, and the original downward trend has not changed in any way.
Trading suggestion: If price rebounds to around 4050–4070, consider placing short positions. The downside target is the 4000 level.
$XAUT $XAU
On the macro front, the U.S. dollar index has rebounded after stabilizing, continuing to suppress upside momentum in gold. Today, there are no major U.S. economic data releases, so market fluctuations are mainly driven by technical factors, and it is likely to enter a range-bound “washout” consolidation.
From the four-hour timeframe, the price’s swing highs keep moving lower. With each rebound, the bullish momentum keeps weakening. The bears firmly control the short-term market rhythm, and the original downward trend has not changed in any way.
Trading suggestion: If price rebounds to around 4050–4070, consider placing short positions. The downside target is the 4000 level.
$XAUT $XAU
