XAUUSD: Beware of Black Friday

✅The current gold trend shows obvious weakness at the 4-hour level. The price is temporarily under pressure below the short-term moving average, and the overall low-level fluctuations are maintained. From the market point of view, the rebound strength and continuity are weak, showing the characteristics of the market's lack of upward momentum. In the short term, we need to focus on the key pressure level of 2613.

✅Combined with the trend of the hourly chart, the gold price has formed a wave of ups and downs since the high of 2626, and the current weak downward trend is obvious. In the short term, the rebound resistance after breaking the low is still concentrated in the 2613-2615 area, and the overall trend is still biased towards the short side. The current short orders of 2622-2625 can continue to be held, and the target is the 2570-2550 area

🔴Short-term resistance: The current trend has failed to break through the short-term moving average pressure, and the 2613-2615 range is an important resistance zone for this round of rebound. If the gold price cannot effectively break through this range, the weak pattern is expected to continue.
🟢Support below: The short-term low of 2583 is the key support. If it falls below this position, it will further open up the downward space.

✅Gold is currently in a weak overall trend, and a short-term rebound is unlikely to change the bearish trend. Especially on Friday, the market may have the possibility of further large-scale declines. In terms of operation, it is advisable to maintain the idea of ​​shorting at high levels and strictly adhere to risk management.

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