This Week's Gold Outlook | Jin Jingwen

Last week, gold experienced a historic one-sided crash. After oscillating at high levels early in the week, it was brought down by the Federal Reserve's ultra-hawkish signals, with consecutive breakdowns and sharp declines, marking the largest single-week drop in recent years!

International gold prices plummeted from above 5000, reaching a low of 4477, falling over 10% in a week; domestic gold declined in sync, with bulls fleeing frantically from higher levels, with bears in control throughout, lacking any meaningful rebounds.

Next Week's Trend Forecast: Gold is likely to continue weak oscillations, with short-term rebounds being only technical corrections. The bear-dominated situation remains unchanged, and weekly adjustments need to continue. The key focus is on the core PCE data impact.

On the major trend, gold's weekly downtrend is complete, with daily MACD death cross and bulls completely powerless. Even if there's a stop-drop oscillation at market open, it's merely washing out to adjust indicators. Don't expect trending gains next week. With bearish factors piling up, the overall view remains bearish. Trading strategy: catch rebounds for short positions, with 4600 as the key resistance level.

For short positions, note the 4380 support level below. If this level holds, you can enter long on the right side, with rebound potential of at least 150 points. Those looking to catch the bottom can try.

Investment involves risks. Enter the market with caution. The above is only personal analysis and does not constitute investment advice! #Gate13周年全球庆典 #TradFi首创多倍杠杆 #加密行情震荡 #XAU