11.11 Qiqi on Gold Midnight Market Commentary: The rebound recovery is over; bears are pushing prices lower again!
The bearish effects of the earlier CPI data continue to build. The brief rebound was merely a pause in sentiment, with no substantial positive factors to support prices at elevated levels. Funds continue to use rebounds as an opportunity to exit.
After reaching an intraday high of 4066.90, prices came under pressure and fell steadily. They dropped sharply on increased volume in the evening, touching a low near 4004, and are currently trading around 4004. Short-term indicators continue to point down, downside momentum has been fully unleashed, and bears have regained control of the market. Resistance above: 4018–4025.
Trading reference: Consider opening short positions in batches on a rebound into the 4005–4015 range. The first target is 3990; if that level breaks, look toward 3970. Avoid blindly buying the dip at lows; wait for signs of stabilization before considering a short-term long position.
⚠️ Note: Market volatility tends to increase late at night, making chase trades riskier. Keep positions light and be sure to use protective stops. $XAU #黄金
The bearish effects of the earlier CPI data continue to build. The brief rebound was merely a pause in sentiment, with no substantial positive factors to support prices at elevated levels. Funds continue to use rebounds as an opportunity to exit.
After reaching an intraday high of 4066.90, prices came under pressure and fell steadily. They dropped sharply on increased volume in the evening, touching a low near 4004, and are currently trading around 4004. Short-term indicators continue to point down, downside momentum has been fully unleashed, and bears have regained control of the market. Resistance above: 4018–4025.
Trading reference: Consider opening short positions in batches on a rebound into the 4005–4015 range. The first target is 3990; if that level breaks, look toward 3970. Avoid blindly buying the dip at lows; wait for signs of stabilization before considering a short-term long position.
⚠️ Note: Market volatility tends to increase late at night, making chase trades riskier. Keep positions light and be sure to use protective stops. $XAU #黄金
