Gold is under pressure! The 4420-4400 point area is still B

Gold is under pressure! The 4420-4400 area is still a big selling point!

The gold market has experienced severe volatility recently. While geopolitical tensions and safe-haven demand continue to support gold prices, the latest economic indicators suggest gold prices are still facing strong downward pressure in the near term.

📌Latest news: Federal Reserve officials have recently continued to send hawkish signals about maintaining high interest rates for a long time, causing U.S. Treasury yields to continue to rise and the U.S. dollar index to strengthen. At the same time, the latest U.S. economic data remains strong and market expectations for another interest rate cut have declined, causing gold prices to fall significantly.

Additionally, some funds have begun taking profits in gold at higher levels, adding to recent selling pressure.

📈Technical analysis:

Looking at the hourly chart, gold has formed a clear bearish channel:

✅ After a wide range of consolidation in the early stage, the price fell below the main support level for the first time, forming the so-called “first breakthrough”.

✅ There was a subsequent rebound, but the highs continued to fall and the downward trend remained.

✅ The market has now entered the “second breakthrough” stage, and the downward channel resistance is strong. The 4420-4400 area has become a key defensive position for sellers. 🔥

The rebound is currently weak and the relative strength index (RSI) remains in weak territory, indicating that the bearish trend continues to dominate the market. 📉

🎯Today’s gold strategy:

🔻Trading Strategy: Sell on dips

📍Bulk sale 4420-4400 range

📍Stop loss: above 4450

📍Target: Range 4350-4320

⚠️If the price unexpectedly breaks through the 4450 mark and stabilizes above, beware of short-term rebound after the supposed breakthrough.

💬My personal opinion: While gold has seen rapid, intermittent recoveries over the past two days, it is clear that these recoveries were weak and the declines were not that severe. In such markets, it is highly recommended to avoid getting carried away by the uptrend. It is better to sell when the price drops to a higher level to make a profit.

The overall trend remains bearish. As long as resistance near 4420 holds, bears will remain in control.

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