We have once again perfectly predicted the gold trend. Throughout Tuesday, we kept calling for short positions at the rebound level of 3335-45, which offered multiple entry opportunities. With bulls continuously facing overhead pressure, bears should continue to focus on the short-term support at 3295-3306, where the price has been oscillating since the beginning of this week.
From the 4-hour chart, the overhead resistance stands near 3338-45. It is recommended to continue taking short positions based on this level and expect the bearish trend to continue. The support below focuses on the key level of 3288-3290. Overall, the price is expected to continue wide-range oscillation within this interval. The uptrend cannot be confirmed before the daily closing price breaks above and holds 3345.
XAUUSD
sell@3340-3350
tp:3330-3320
From the 4-hour chart, the overhead resistance stands near 3338-45. It is recommended to continue taking short positions based on this level and expect the bearish trend to continue. The support below focuses on the key level of 3288-3290. Overall, the price is expected to continue wide-range oscillation within this interval. The uptrend cannot be confirmed before the daily closing price breaks above and holds 3345.
XAUUSD
sell@3340-3350
tp:3330-3320
Trade active
Today, the market continues its consolidative pattern. The key resistance zone at 3,345-3,350 remains a valid suppression level, while the support cluster at 3,315-3,320 forms a significant buffer. If prices retrace to the support zone, consider scaling into long positions to capture potential rebound continuation. The trading strategy maintains a "buy low, sell high" cyclical logic within the 3,350-3,315 range.Critical Monitoring: Closely track the progress of Sino-US trade negotiations and today's CPI data release, as both events may exacerbate market volatility and influence short-term trend direction.
Trade closed: target reached
The CPI data came in below expectations across the board, providing strong momentum for the rise in gold prices. In the short term, gold prices strongly broke through the 3350 resistance zone and surged to the 3360 level at one go.Note
Yesterday, gold surged then pulled back in a washout move triggered by CPI data, before rebounding again in the evening on news-driven sentiment, closing the daily chart bullish. This morning's opening saw further rally breaking new highs, confirming strong bullish momentum. Today's strategy remains buying on dips with the uptrend.
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