Midnight Gold Outlook: Key Support Holds Firm, Bulls Re-Engage for Further Space

The core of trading is anchoring at key price levels amid uncertainty. For midnight gold行情, accurately identifying support and resistance allows for clear rhythm.

Today’s spot gold opened at 4607.87, initially dipped to 4573.72 before rebounding. Currently standing at 4609.14, up 0.27% from yesterday’s close. The 4600 level has been tested multiple times to form effective support. Overall, midnight trading shows a oscillating but slightly bullish trend.

The main news is the debate over Fed rate cut expectations. US economic data fluctuations have not changed the rate cut outlook. A weak dollar supports gold’s底部, while geopolitical tensions bring safe-haven buying. No clear directional signals yet, with gold maintaining a range-bound but bullish bias.

On the technical side, a 30-minute chart shows a rebound from the bottom. The 4600 level has shifted from resistance to key support. The secondary support is at 4585. After the rebound, bullish momentum is recovering. The previous high above is an important resistance. Breaking through could lead to a move toward the 4650-4670 range.

Midnight strategy relies on buying low around 4600, entering at 4600-4605, with a stop below 4585. Initial target is the previous high zone. If the previous high is effectively broken, continue to target 4650-4670. If not, try light short positions with a stop above 4640, aiming for 4620-4610. Manage position sizes carefully and adjust according to real-time market conditions.

Disclaimer: This article is written by Old Cat of Juejin, for personal market analysis and trading ideas only, not investment advice. Financial markets carry risks and rewards; investors should make decisions based on their own circumstances. Trading risks are borne by the trader.