Yesterday's gold market showed notably increased volatility with intense long-short positioning battles. Prices dipped to the key support level of 4970 mid-session, triggering a technical rebound, but the rebound strength was relatively limited. After rising to around 5050, the market encountered strong selling pressure and retreated again, ultimately closing with a bearish candle on the daily chart, presenting an overall weak pattern of failed rallies. From recent price action, gold rally momentum continues to weaken, selling pressure accumulates, and successive lows continue to decline, with the short-term price structure clearly dominated by bearish bias.

From a market sentiment perspective, the ongoing tug-of-war between Fed rate expectations and global risk-off sentiment remains the core factor affecting gold price movement. Influenced by the dollar index's cyclical strength, bullish confidence in gold has been dampened, and price upside continuously lacks effective support. Short-term lacks clear unidirectional upward momentum, with overall trading maintaining a rangebound, weak-bias tone.

From a technical standpoint, the 5050 level serves as a key recent resistance barrier with particularly evident restricting effects—gold has attempted numerous rallies to this level without effective breakthrough, forming a clear top resistance pattern. Simultaneously, successive higher lows are declining and the bearish trend is becoming clearer. Without effectively breaking through the 5050 key resistance, the market is expected to continue its rangebound, weak-bias trading rhythm.

Operationally, it's recommended to maintain a short bias. Focus on identifying shorting opportunities when prices rally to the 5030-5045 resistance zone. Downside targets can be placed sequentially at the 5000-4990 range, with further support noted at the 4950 level. Strictly implement position management and risk control.

Disclaimer: The above content is solely for personal market analysis and operational ideas sharing and does not constitute any investment advice. Market fluctuations carry uncertainty, trading involves risks, and investors should make cautious decisions based on their own circumstances and trade rationally. #比特币站上7.5万美元 #英伟达GTC2026大会召开