Enzel: Gold Bottom Search Continues! Rebounds Are Shorting Opportunities, Do Not Blindly Buy the Dip

Gold has not stopped its downward exploration for new lows. Today, Monday's opening was lower, touching the 4320 level before rebounding slightly, but the rebound strength is weak, and the overall bottom-seeking trend continues.

Intraday focus is on the 4630-4650 resistance zone above. Operations should follow a range-bound oscillation strategy, with key tracking of gold's bottom-seeking trend. Today's price action aligns with the weekend's short continuation judgment. Before a clear bottom signal appears, do not blindly buy the dip.

The previous low of 4320 below serves as short-term support, where a technical rebound is likely to occur, but from a trend perspective, a breakdown is only a matter of time. Watch the 4630-4640 short-term resistance above, with 4750-4760 being an important resistance at the golden ratio of the previous decline, and pay close attention to the 4800-4810 resistance level. Operations should focus on selling rebounds that fail to break through, with specific strategies provided in real-time during the session.

Operation Suggestions:
Gold rebounds at 4600-4620 to short, 4635-4640 for additional shorts, stop loss at 4655, target the 4335-4350 level.

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