Enze: Crude oil surge disrupts gold, key resistance directly determines direction

Affected by the sudden spike in crude oil prices, gold quickly dropped during trading, temporarily breaking below the 4700 key level, with short-term pressure clearly evident. However, the market's bulls and bears rapidly switch, and gold prices then rebound quickly, digesting the negative impact. Currently, around 4730, it enters a narrow range of consolidation, with bulls and bears temporarily in balance.

The subsequent trend mainly focuses on the core resistance zone of 4750-4760, which is the critical watershed for short-term gold movement. If the gold price can effectively break through this zone and stabilize above 4760, it indicates that the bullish momentum is regaining strength. The upward trend will continue, with further room for gains, and the next resistance target can be seen around 4780-4800.

Conversely, if the gold price encounters resistance near 4750-4760 after rising and falls back, with bullish momentum weakening, a short-term correction is likely to restart. Trading strategies can rely on this strong resistance zone of 4750-4760, taking small short positions on rallies to capture short-term correction profits.

Overall, the core idea for short-term gold trading is clear: rely on key resistance levels at high positions, sell on resistance, and follow the trend to seize wave movements.

Reminder:

The above analysis is Enze's personal view. The market changes rapidly, so everything is based on Enze's actual insights!
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