Last week, gold experienced a classic W-bottom rebound catalyzed by risk events, directly breaking through the 4500 level, and the enthusiasm of the bulls was completely ignited.
However, the pullback in early trading today is normal. In such situations, the strategy of buying on dips should still be maintained. Short positions are really only suitable for ultra-short-term quick cuts and not worth holding stubbornly. To shift to a bearish view, you need to wait for two clear signals to appear: one is the European session breaking below the Asian session low, and the other is a reversal after rapid gains in early trading. Before seeing these signals, absolutely don't do reverse operations to short the bottom.
The current situation is very clear—gold prices are slowly oscillating upward, with each low point rising higher. The key is still whether those support levels can hold. If the 4430 to 4445 zone can hold up, long positions can completely follow through and break 4500; but if this level doesn't hold and falls through, then you need to immediately change stance and try reverse short positions with light positions.
Last week, gold experienced a classic W-bottom rebound catalyzed by risk events, directly breaking through the 4500 level, and the enthusiasm of the bulls was completely ignited.
However, the pullback in early trading today is normal. In such situations, the strategy of buying on dips should still be maintained. Short positions are really only suitable for ultra-short-term quick cuts and not worth holding stubbornly. To shift to a bearish view, you need to wait for two clear signals to appear: one is the European session breaking below the Asian session low, and the other is a reversal after rapid gains in early trading. Before seeing these signals, absolutely don't do reverse operations to short the bottom.
The current situation is very clear—gold prices are slowly oscillating upward, with each low point rising higher. The key is still whether those support levels can hold. If the 4430 to 4445 zone can hold up, long positions can completely follow through and break 4500; but if this level doesn't hold and falls through, then you need to immediately change stance and try reverse short positions with light positions.