Juejin Old Cat Gold Midnight - Morning Review and Subsequent Strategy

At midnight, we clearly outlined a high-short idea, targeting the range of 5080~5060. The market moved exactly as expected, almost hitting the target level immediately after opening, accurately reaching the target price, and the short strategy achieved ideal profit realization.

From a news perspective, recent US labor market data has been strong, combined with the market’s continued cooling on expectations of Fed rate cuts this year. The US dollar index remains relatively strong, exerting ongoing pressure on gold prices. Meanwhile, the phased easing of geopolitical risks has also weakened the safe-haven demand for gold, providing macro-level support for a bearish trend.

From a technical standpoint, the 1-hour Bollinger Bands still show a bearish alignment, with prices pressured below the middle band. The moving average system has also turned downward, indicating short-term bearish momentum has not yet exhausted. Key support levels are at 5075-5070; a valid break below could open further downside space. The important resistance zone is at 5095-5100; the rebound strength here will determine the subsequent trend.

Future operations will mainly focus on high short positions, paying close attention to the rebound strength at resistance levels. If the price rebounds to the 5095-5100 zone, continue to set up short positions with a stop loss above 5105, first target 5080, and if broken, then target 5060. If the market quickly breaks below the 5075 support, follow the trend to short, with a target around 5060.
⚠️ Disclaimer: This strategy is for technical analysis and market interpretation reference only and does not constitute any investment advice. The market carries risks; trading should be cautious. Profit and loss are at your own risk based on your operations.