Juejin Old Cat: Two-Day Surge Ends! Gold Is About to Turn

Today, gold opened at 4763 during the daytime session, continuing the strong upward momentum for two days. It surged to a high of 4888 during the session, then the bullish momentum gradually weakened, and the price faced resistance and pulled back, closing around 4852. The intraday gains narrowed, and the market showed clear signs of stagnation, with a warming expectation for a pullback.

On the news front, the optimistic expectation of interest rate cuts has been fully priced in. Bullish traders are taking profits before the 4900 level. The US dollar remains steady, suppressing gold prices. With no new positive catalysts, the upward momentum appears to be weakening.

From a technical perspective, the daytime market has triggered a 30-minute high-level shooting star candlestick. The price is overbought, and a MACD bearish divergence signal has formed. Multiple signals confirm that a reversal from midnight to early morning is highly probable. The first support is at 4830; if broken, the price may test 4800.

The trading strategy from midnight to early morning continues the high-probability outlook. It is recommended to short in the 4860-4870 range, targeting 4830-4800. Set the stop-loss above 4890. If the market retraces and stabilizes around 4800-4810, consider a small long position to catch a short-term rebound, targeting 4840-4850. Market volatility during midnight is high, so position sizes should be strictly controlled, and chasing highs should be avoided.

Disclaimer: This article is only a personal trading idea shared by Juejin Old Cat and does not constitute any investment advice. Market trends are uncertain, and trading during midnight to early morning carries increased risk of volatility. Make independent decisions based on your risk tolerance. Trade at your own risk.