XAUUSD: 2/12 Today's Market Analysis and Strategy

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Gold technical analysis
Daily resistance 2700, support below 2580
Four-hour resistance 2653, support below 2627

Gold operation suggestions: Last Friday, the technical side of gold prices quickly hit the 2666 mark in the Asian and European sessions and fluctuated sideways. The US session was suppressed and closed below the 2660 mark. Today, the gold price fell directly at the opening of the Asian session and broke through the 2650 mark and continued to fall back to the vicinity of 2640. After rebounding for two consecutive trading days last week, the short-term gold price entered a suppressed adjustment pattern.

At present, from the 4-hour trend, the pattern of continuous rise in gold in the early stage has basically ended, and the short position will continue to ferment. From the perspective of the market, after the gold price fell below 2645, the original support point turned into the first reference pressure. Relying on this position, the main short position continued to fall downward. The lower target position first focused on whether the 2627 mark could be broken. If the 1H line breaks through, it can be further shorted. If 2627 is not broken, it will still maintain a volatile operation. The short-term watershed between long and short strength is 2639. Before the daily level breaks through and stands at this position, any pullback is a short-selling opportunity. Keep participating in the trend

SELL: 2639near SL: 2643
SELL: 2624near SL: 2627

The strategy only provides trading directions.
Since it is not a real-time trading guide, please use a small SL to test the signal.
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