Enzer: Gold Bottom-Hunting Continues! Use Rallies as Shorting Opportunities, Avoid Blind Bottom-Fishing

Gold has not stopped its downtrend in search of new lows. Today, Monday's opening showed a gap-down, with the lowest point touching the 4320 level before a modest rebound. However, the rebound strength is weak, and the overall bottom-hunting trend continues.

Intraday focus should be on the 4630-4650 resistance zone above. Operations should follow a range-trading approach as the main strategy, with key tracking of gold's bottom-hunting movement.

Today's price action aligns with the bearish continuation judgment provided over the weekend. Before clear bottom signals appear, avoid blind bottom-fishing.

The 4320 previous low below serves as short-term support, where a technical rebound is likely to occur. However, from a trend perspective, breaking below is only a matter of time. Watch for 4630-4640 short-term resistance above, with 4750-4760 being the important golden ratio resistance from the previous decline. Pay special attention to the 4800-4810 level as key resistance. Operations should focus on shorting on rallies that fail to break through, with specific strategies provided in real-time during the session.

Operation Suggestions:
Gold rebounds at 4600-4620 for shorting; 4635-4640 for adding shorts; stop loss at 4655; target 4335-4350 level.

Reminder:
The above analysis is Enzer's personal analysis for reference only and does not constitute any investment advice! $XAU $XAUT ‌ ‌