Last week, gold experienced a historic one-sided crash. After oscillating at highs early in the week, it was hammered by the Federal Reserve's super-hawkish signals, with continuous breakthroughs and sharp declines, creating the largest single-week drop in recent years!
International gold prices plummeted from above 5000 to a low of 4477, dropping over 10% in one week; domestic gold fell in sync, with bulls frantically fleeing from highs, with bears dominating throughout and no meaningful rebounds at all.
Next Week's Trend Forecast: Gold prices are likely to continue weak oscillations, with short-term rebounds being only technical corrections. The bear-dominated situation hasn't changed, and weekly-line adjustments need to continue. The key focus is the impact of core PCE data.
On the macro trend, gold's weekly downtrend is complete, the daily MACD has formed a death cross, and bulls have completely lost momentum. Even if it stops falling and oscillates at the open, it's just shaking out and fixing indicators. Don't expect a trendy rally next week—bearish factors are piling up, the overall outlook remains bearish. Trading strategy: go short on rallies with 4600 as the key resistance level.
For short positions, watch the 4380 support below. If this level holds, you can enter longs from the right side, with rebounds of at least 150 points. Those looking to buy the dip can try.
Investing involves risks; proceed 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
This Week's Gold Outlook | Jin Jingwen
Last week, gold experienced a historic one-sided crash. After oscillating at highs early in the week, it was hammered by the Federal Reserve's super-hawkish signals, with continuous breakthroughs and sharp declines, creating the largest single-week drop in recent years!
International gold prices plummeted from above 5000 to a low of 4477, dropping over 10% in one week; domestic gold fell in sync, with bulls frantically fleeing from highs, with bears dominating throughout and no meaningful rebounds at all.
Next Week's Trend Forecast: Gold prices are likely to continue weak oscillations, with short-term rebounds being only technical corrections. The bear-dominated situation hasn't changed, and weekly-line adjustments need to continue. The key focus is the impact of core PCE data.
On the macro trend, gold's weekly downtrend is complete, the daily MACD has formed a death cross, and bulls have completely lost momentum. Even if it stops falling and oscillates at the open, it's just shaking out and fixing indicators. Don't expect a trendy rally next week—bearish factors are piling up, the overall outlook remains bearish. Trading strategy: go short on rallies with 4600 as the key resistance level.
For short positions, watch the 4380 support below. If this level holds, you can enter longs from the right side, with rebounds of at least 150 points. Those looking to buy the dip can try.
Investing involves risks; proceed 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