Midnight Bearish Sentiment Remains Unchanged | Rebound is a Trap, Break Through Key Support

Gold Digger Old Cat · Midnight Strategy

Stay true to your direction and avoid following the crowd, maintain discipline in your actions, follow the trend, and protect key levels. Profits will come naturally.

Today, gold prices initially surged but then retreated overall. At midnight, the market continues to consolidate weakly. The short-term rebound is limited, with no strong reversal signals. The overall trend is likely to face resistance during rebounds and gradually decline.

From a technical perspective, short-term gold prices are under pressure at key resistance zones. Moving averages are in a bearish alignment, and the middle band of the Bollinger Bands provides strong resistance. Indicators still show bearish momentum. The overall structure remains bearish, and rebounds are just corrections, not changing the medium-term downtrend.

Market news has calmed, and geopolitical risk aversion continues to cool down. The US dollar and Treasury yields still suppress gold prices. There are no major data releases or bullish catalysts at the moment. The market is primarily driven by technical trends.

Trading strategy: focus on shorting, with occasional long positions as supplements. During rebounds to the 4670–4690 zone, gradually build short positions. The first target for shorts is 4640. After partial profit-taking, continue to hold until around 4600. If prices fall back to near 4600, consider closing short positions and lightly attempt long positions. If 4600 is broken decisively and the market weakens further, hold onto the shorts for deeper targets. Strictly set stop-losses throughout, trade with light positions, follow the trend, and avoid heavy or over-leveraged trades.

Investing involves risks. Enter the market cautiously. The above is only a personal technical analysis and does not constitute any trading advice.