Juejin Old Cat | Midnight Gold Market Analysis

Spot gold retreated from highs this evening. After hitting a bottom during the day, it rebounded twice above 5120 but failed to break through effectively, showing a overall sideways consolidation pattern with clear signs of bullish accumulation.

On the news front, market sentiment this evening is cautious. The US dollar and US Treasury yields fluctuate slightly, exerting some pressure on gold, but no extreme bearish drivers have appeared, providing a temporary buffer for gold prices.

Technically, on the hourly chart, the middle band of the Bollinger Bands continues to decline. The price is currently near the lower band, with short-term support around 5015. If the price tests this area again without breaking below, it will be a key signal of bullish accumulation. Meanwhile, the MACD indicator's green bars are narrowing, indicating weakening bearish momentum. The KDJ indicator has entered oversold territory and shows signs of turning upward, suggesting a short-term rebound window is opening.

Reviewing the evening market, after the gold price bottomed out and recovered during the day, it attempted to rise above 5120 twice but was met with resistance and fell back. This indicates strong selling pressure at this level. Until a breakout occurs, the market is likely to remain in a range-bound consolidation, waiting for sufficient chip exchange before challenging previous highs.

In terms of trading strategy, continue with a low-buying approach. Focus on the 5050-5030 range for short-term long opportunities. Resistance levels are first seen at 5100-5120; if broken, the target can be further raised to above 5150. If the price falls below 5015, it’s advisable to stay on the sidelines and wait for better entry points.

Disclaimer: The above analysis is for personal trading ideas only and does not constitute any investment advice. The market carries risks; trade cautiously.