Gold prices have been steadily declining since reaching 4026 last Friday, with virtually no meaningful rebound along the way. They dipped to around 3870 before gradually stabilizing and are currently moving sideways around 3900.
After breaking through several short-term support levels in quick succession, prices accelerated lower, with sellers firmly in control. The latest downswing on the 4-hour chart has already covered substantial ground.
Technically, the weekly and daily moving averages are aligned in a classic bearish formation, while the Bollinger Band middle line is acting as strong resistance. After a brief recovery, 4-hour indicators have turned weaker again, making it difficult for buyers to sustain a rally.
Fundamentally, this sharp drop was driven mainly by easing rate-cut expectations and a stronger U.S. dollar. The current rebound is merely a technical correction after an oversold decline; there has been no material improvement in the fundamentals. Upside is limited, so don't mistake this for a bottom and reversal.
Trading plan:
Sell on a rebound into the 3915–3935 range, targeting 3860–3830. Manage risk carefully.
$AAPLB $NVDAB #币安已处理46.5亿美元提款 #币安第一阶段15个网络已恢复提现
After breaking through several short-term support levels in quick succession, prices accelerated lower, with sellers firmly in control. The latest downswing on the 4-hour chart has already covered substantial ground.
Technically, the weekly and daily moving averages are aligned in a classic bearish formation, while the Bollinger Band middle line is acting as strong resistance. After a brief recovery, 4-hour indicators have turned weaker again, making it difficult for buyers to sustain a rally.
Fundamentally, this sharp drop was driven mainly by easing rate-cut expectations and a stronger U.S. dollar. The current rebound is merely a technical correction after an oversold decline; there has been no material improvement in the fundamentals. Upside is limited, so don't mistake this for a bottom and reversal.
Trading plan:
Sell on a rebound into the 3915–3935 range, targeting 3860–3830. Manage risk carefully.
$AAPLB $NVDAB #币安已处理46.5亿美元提款 #币安第一阶段15个网络已恢复提现
