Gold price breaks through new high of 4390, trend strength crushes short-term predictions
Morning strategy focuses on 'rising pressure, short-term short selling layout', unexpectedly, the bullish momentum of gold far exceeds expectations, directly breaking through the key resistance level of 4374, ending with a strong close at a new daily high of 4390.99 USD, ultimately standing firmly at a high of 4388.91 USD, completely dismantling the previously emerging technical expectation of a 'double top' reversal.
Looking back at the morning assessment, the short-term technicals indeed released pressure signals, and bullish momentum seemed to be coming to an end, yet it underestimated the strong resilience of gold's large-scale uptrend. The market trend completely deviated from the short-term prediction framework: the gold price not only did not fall back to the target range, but rather strongly broke through the strong pressure zone of 4374 and the stop-loss level of 4390, with an intraday high reaching 4390.99 USD, performing a market trend that 'crushes short-term signals'.
From the 1-hour candlestick chart, the Bollinger Bands show a strong expansion upward pattern, with the gold price consistently running along the upper track, and the moving average system forming a perfect bullish arrangement, with the previous low of 4338 USD having turned into solid support. The core logic behind this counter-trend rise lies in the dominance of the medium to long-term bullish trend of gold, completely covering the short-term technical pullback signals, once again confirming the iron rule of the trading market — 'trend is king, follow the trend', when short-term technical signals diverge from long-term trends, the trend is always the priority choice.
This market also brings profound trading insights: even if short-term technicals show signs of correction, as long as the medium to long-term bullish trend remains unchanged, one must treat short positions with caution, and stop-loss settings must be meticulous to avoid significant losses caused by trend continuation. Currently, gold price has successfully broken through the key level of 4390 USD, with the next target pointing directly at the integer level of 4400 USD, while the range of 4380-4385 USD has become an important short-term support zone. From an operational perspective, it is recommended to focus on buying on dips, and avoid blindly predicting tops and going short against the trend.
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