Juejin Old Cat: Gold Bottoms Out and Rebounds with Volatility, Still Maintaining a Shorting Mindset

Today, spot gold experienced a bottoming out and rebound with sideways movement. The market opened at 4631, dipped to the intraday low of 4581, then rebounded. The current quote is 4618, slightly below yesterday’s close of 4626. The highest intraday level reached 4633. Throughout the midday, the price remained within a narrow range without any breakout trend.

There are no major economic data releases at the moment. The market is mainly digesting the Fed’s hawkish policy expectations and geopolitical risk aversion news. Hawkish comments from Fed officials support the US dollar, exerting pressure on gold, while geopolitical risk sentiment provides some buying interest. With mixed factors of bulls and bears, gold lacks a clear short-term direction, and market sentiment remains cautious, leading to sideways consolidation.

From a technical perspective on the 15-minute K-line chart, gold rebounded in a V-shape after dipping to 4581, returning above the 4600 level. Short-term moving averages are turning upward, but resistance around 4633 caused a pullback, indicating lingering selling pressure. The MACD formed a bullish crossover at a low level, with increasing red bars, suggesting short-term bullish momentum is recovering. However, the Bollinger Bands are narrowing, limiting trend space, and the overall pattern remains a high-level consolidation with a slight bearish bias.

Strategy-wise, continue to prioritize a high-short approach. In the short term, focus on the resistance zone of 4625-4630. A rebound to this area can be used to establish short positions targeting 4600-4590. Support at 4580-4585 can be used for light long positions with targets of 4600-4605. Trading should strictly control position sizes and implement proper stop-loss measures.

Disclaimer: The content of this article is for market analysis and strategy reference by Juejin Old Cat only and does not constitute any investment advice. Financial markets carry high risks; investors should make independent judgments and bear the corresponding risks.