Gold Old Cat

Noon Gold Strategy: The bullish outlook remains effective, waiting patiently for the bears to regain strength

Market Review Today:
Last night during the midnight hours, our confident bullish outlook was once again accurately fulfilled. After touching the key resistance level around 5100, gold retreated as expected, with a low of about 5055, perfectly confirming our forecast from 5100 down to 5050. After the market opened in the morning, prices continued to fluctuate weakly and are currently trading around 5064.84, still following the anticipated retracement pattern.

News Analysis:
Currently, market expectations for a rate cut by the Federal Reserve in March have cooled down, with the US dollar index remaining relatively strong, continuously suppressing bullish sentiment in gold. Although geopolitical risks have fluctuated, they have not triggered sustained safe-haven buying. The main trading theme remains centered around monetary policy expectations, providing macro support for our bearish strategy.

Technical Analysis:
From the 1-hour chart, after gold surged above 5100, it quickly retreated, with long upper shadows indicating heavy selling pressure above. Short-term moving averages are turning downward, and the MACD indicator has crossed into a bearish divergence, with bearish momentum gradually strengthening. The key support zone is between 5050-5055; if effectively broken, further downside could open up. The early morning rebound high at 5085-5090 serves as the core resistance for bears.

Strategy and Range:
Today's operations will continue to adhere to the bearish outlook; reckless chasing longs is not recommended. Aggressive traders can consider short positions in the 5080-5085 range, with a stop loss above 5095, targeting first 5060-5055, and if broken, then 5030-5025. If the price directly breaks below 5055, follow the trend and add to short positions, aiming around 5030.

Disclaimer:
The above analysis is for personal trading ideas only and does not constitute any investment advice. Markets carry risks; trade cautiously.