Gold trend under panicRecently, gold price fluctuations have significantly increased, and the decline in risk appetite in the global financial market has driven funds to safe-haven assets. As various assets are sold off, although gold has shown resistance to declines, it has frequently experienced violent fluctuations during the trading session - a rapid rebound after a sharp drop has become the norm, and the daily fluctuation often reaches more than 20 US dollars. The current market environment is complex, with geopolitical situations, economic data and emotional games intertwined. The main funds are taking advantage of the situation to wash the market, and the difficulty of short-term trading has increased.
From a technical point of view, the gold price is in a short-term range shock pattern, with upper resistance at 3025-3030 and lower support at 2972-2963. The key defense line of 2963 cannot be lost. If it falls below this position, it may trigger further downside risks. Strategically, it is recommended to adopt the idea of "high-altitude and low-multiple": try short with a light position when approaching the resistance level, short-term long after stepping back to the support level and stabilizing, and strictly set stop losses to prevent extreme fluctuations. It is worth noting that if the price effectively breaks through 3055, it means that the previous adjustment has ended, and the subsequent upward trend may restart.
Gold strategy: Buy when it falls back to around 2980-2975, target 3005
