Yi Chen: Funds are fleeing wildly! The gold market has entered a one-sided decline

From a technical perspective, the four-hour chart shows the price has effectively broken below the middle band of the Bollinger Bands, breaking the bullish trend structure, and the market has officially shifted into a downward weak pattern. Currently, the price is running close to the lower Bollinger Band, with the 4689 level of the lower band becoming a short-term key defensive point; the 4756 middle band level above has turned into a strong resistance zone. Until the rebound fails to recover this level, the bearish downward momentum will be difficult to reverse. Meanwhile, the KDJ indicator's three lines continue to decline at low levels, indicating that short-term bearish momentum has not been fully released, and market sentiment remains relatively strong.

On the news front, risk aversion in the market has temporarily cooled down, and the market is re-pricing the Fed's rate cut cycle. The attractiveness of dollar assets has increased, suppressing the upward momentum of precious metals. Additionally, profit-taking funds at high levels are exiting the market in concentration, creating a resonance of selling pressure.

Suggestions:
Rebound around 4740-4760, sell in batches, targeting 4680, 4650; if broken, continue to look down to 4600, 4550.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk. $XAU