Yesterday the gold price surged to around 5190, followed by continuous large bearish candles declining, showing obvious weakness. The price action yesterday perfectly aligned with yesterday's analytical perspective.
Recently, the price has been suppressed by 5230, with each approach to this resistance level being blocked at the gate. Meanwhile, the price continues to remain below the moving average, and rebounds lack momentum—essentially unable to strengthen. We continue to expect a decline.
Gold, Early Morning Analysis
Yesterday the gold price surged to around 5190, followed by continuous large bearish candles declining, showing obvious weakness. The price action yesterday perfectly aligned with yesterday's analytical perspective.
Recently, the price has been suppressed by 5230, with each approach to this resistance level being blocked at the gate. Meanwhile, the price continues to remain below the moving average, and rebounds lack momentum—essentially unable to strengthen. We continue to expect a decline.
Short around 5137, target at 5090