Gold/XAUUSD rebound weakens, risk of decline increases, continue to sell high on Friday
Gold fell weakly yesterday, fluctuating at a high level in the Asian session, quickly dropping at noon, entering fluctuations again during the European session, and the evening U.S. session saw a weak rebound, accelerating the decline again, with the low point before the close reaching 4351, our high sell also perfectly fulfilled.
Currently, the hawkish expectations of the Federal Reserve continue to ferment, with funds continuously flowing into the U.S. dollar and U.S. Treasury bonds, directly suppressing gold prices, while the geopolitical conflict in the Middle East promotes high inflation, further weakening safe-haven demand.
Currently, the daily moving averages are in a bearish arrangement, briefly turning bullish before entering a weak state again, with short-term trends clearly weakening, further strengthening the overall downward trend, with gold prices forming a clear consolidation zone in the 4350-4450 range, focusing on the 4450 resistance in the short term; if it does not break, the downtrend remains.
Entry opportunity: Sell near 4450, target 4400-4350