Judging from the 4-hour chart of spot gold, after yesterday's sharp rebound from low levels, the price of gold has now returned to the narrow range ahead. Given that there is still no sign of a breakthrough in the large-scale shock trend, the pressure of 1970 can be used as a reference within the day. Below the pressure, focus on the 1954-1970 range. If the price breaks through the pressure position, there may be a further rebound to the 1980-1985 range within the day.
Pressure: 1970-1980-1990
Support: 1958-1950-1940
Suggestions for today's spot gold market operation:
Short selling in 1968-1969, target in 1964-1959
Go long in 1957-1958, target 1962-1967
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