Gold prices recently show signs of nearing the end of an upward trend, appearing strong but actually signaling obvious trap-like signals. Coupled with evolving international situations—such as tensions in the Red Sea and resource disputes in Greenland—these factors have temporarily boosted safe-haven demand, but the market has already priced in these expectations. As the US initial jobless claims data approaches release, expectations for a March rate cut by the Federal Reserve continue to cool down, the US dollar index stabilizes and rebounds, directly suppressing the upward space for precious metals.

From a technical perspective, the four-hour chart shows prices approaching the upper band resistance at 95.883. The MACD indicator's green bars are gradually appearing, the DIF has crossed below DEA forming a death cross, indicating that bullish momentum is significantly weakening. The Bollinger Bands are narrowing, and prices are trending back toward the middle band at 93.715. These signals point to a bearish dominance.

From a trading standpoint, it is recommended to gradually establish short positions in the 94.5-95.5 range, with the first target at 93, and further downside potential toward 91.