Market Review:

Yesterday, gold opened at around $5021.3, with the Asia-Europe session maintaining an overall oscillating trend, fluctuating repeatedly between $5038 and $4967. During the session, gold price found support above $4967 multiple times and rebounded. It surged to around $5038 during the US session before oscillating lower, eventually closing at $5006.4.

On the daily chart, the stochastic indicator continues to show a bearish death cross, which is a clear bearish signal. The trend suggests continued downward movement, oscillating decline, and seeking support. On the 4-hour chart, the stochastic indicator is currently showing a bullish cross, but the rebound strength is weak with poor continuity, representing a weak recovery through time consolidation. The indicator's golden cross does not mean we can directly go long. The structure remains under pressure, and after the recovery completes, it will continue to oscillate downward. The chart shows gold's characteristics of "narrow-range oscillation with insufficient momentum." Key support below is 4950-4980; resistance above is 5050-5080. Today's strategy prioritizes going short from above.

Gold Trading Strategy: Short near 5030-5035, stop loss at 5045, target 5000

Disclaimer: The above content is only personal thoughts and viewpoints for sharing purposes and does not constitute trading advice.