Juejin Old Cat: Gold Top Signal Emerges, High-Altitude Strategy Officially Begins

The core of trading is to follow the trend and control the rhythm, avoiding blindly chasing highs or going against the trend. Make decisive moves at key points and switch directions promptly at trend reversals to protect profits and avoid risks amid market fluctuations.

Today, gold continued its strong upward momentum in the early session, briefly reaching around 5090. After touching the critical resistance level at 5100, it faced clear resistance, with two consecutive attempts to break through unsuccessful. Subsequently, a pullback occurred, and the current price is consolidating around 5060. From a technical perspective, the previous upward channel pattern has shown clear signs of turning, with a clear top signal. The short-term upward trend has ended, officially entering a high-level consolidation and pullback phase.

On the technical side, the 5100 resistance remains strong. The hourly candlestick chart shows consecutive upper shadow lines, indicating heavy selling pressure above. The MACD indicator has formed a death cross at high levels, with bearish momentum gradually accumulating. Multiple attempts to test the 5100 level have failed, making a breakthrough in the short term unlikely. The market is likely to mainly fluctuate sideways moving forward.

Strategy-wise, maintain a firm short position bias. Rebounds to the 5080-5100 range can be used to establish short positions. The initial target below is the 5020-5000 range. If the 5000 level is broken, further downside targets could be near 4950. Currently, it is not recommended to blindly participate in long positions. Strictly adhere to the short strategy, avoid chasing longs, and do not go against the trend.

Disclaimer: The above analysis is based solely on current market trends and technical indicators. It does not constitute any investment advice. The market carries risks; trading should be cautious. Investors should make rational decisions based on their own risk tolerance. Any gains or losses are at their own risk.