3.27 Golden Midnight Review
Afternoon Warning! The rise and fall of gold hides danger. In my view, an excellent opportunity to short has already presented itself!
This morning, gold started fluctuating upwards from a low of around 4375, and subsequently surged, briefly reaching an intraday high of 4446, only to quickly reverse. The short position I clearly advised this morning has directly yielded a profit of 40 dollars, and friends who have been closely following my strategy have definitely made a profit this time!
From my personal assessment of the market, recent U.S. economic data has far exceeded market expectations, which has directly fueled expectations for the Federal Reserve to maintain high interest rates or even raise rates again. Both U.S. Treasury yields and the dollar index have strengthened, severely suppressing gold's anti-inflation and safe-haven attributes. Additionally, with geopolitical risks experiencing a temporary easing, market panic has significantly cooled, and gold simply does not have enough safe-haven buying support; a decline is indeed the trend.
Analyzing from a technical perspective, on the four-hour chart, the mid-term trend for gold is clearly downward. This round of rebound has not been able to break through the key resistance level, and the bearish dominance in the market has not changed at all. Currently, gold prices have rebounded to the middle track of the BOLL, which has very strong resistance, and the bullish rebound momentum is severely lacking. In my opinion, it is highly likely that the price will face pressure and decline further.
On the short-term 5-minute chart, the signs are even clearer. After gold prices reached the upper track of the BOLL, they quickly fell back, and the bullish strength has completely exhausted, forming a standard high-low pattern. This K-line formation fully indicates that there is extremely heavy selling pressure above. Personally, I judge that gold will inevitably continue its downward adjustment in the afternoon.
Personal practical advice: After rebounding to around 4473-4495, set up short positions, with the initial target at 4450, and if it breaks down, continue to look at #黄金 4400! #XAU