Market Review

Yesterday, spot gold rose and then fell, opening at $4300.6/ounce, dipping to $4290.3 before surging to a high of $4350.6, then plummeting to $4285.2 at the end of trading, finally closing at $4305.5, with the daily line recording a long upper shadow shooting star, signaling a short-term adjustment.

2. Technical Signals and Position Risk Control

The high shooting star suggests weakness in the bulls, and a subsequent high probability of a pullback or fluctuation.

◦ Previous positions at 3322/3325, 3368-3370, 3377/3385, 3563 long positions: reduce positions and adjust stop loss uniformly to $4000;

◦ Last week's 4174/4176, 4184/4187, 4205/4208 long positions: adjust stop loss to $4220.

3. Key Price Levels and Trading Strategy

Support at $4285, break below to test $4250; resistance focused at $4350, do not chase high if not broken.

Today's operation: short at 4345-4347, stop loss at 4358, target at 4320/4305/4290/4285, break below to look at 4272/4265 to exit and reverse to long.