In the early session, gold did not directly surge but maintained a fluctuating trend. In the absence of significant unexpected events and major data stimuli, this kind of movement is likely to continue for a long time, which is quite beneficial for our subsequent operations.
It was mentioned earlier this morning that, with Christmas approaching, unless there are special circumstances, gold is likely to experience a fluctuating market, so it is essential to avoid chasing highs and cutting losses. Since gold is difficult to break upwards, we shouldn't expect much from the bulls in the short term, as they currently lack the ability to turn the situation around and trigger a reversal in gold. Today, gold rebounded to 2633 and then began to retreat; during the US session, it faced pressure below 2620, allowing for continued shorting at highs.
This is the current market situation; one cannot assume a trend reversal just because there is a rise. It is important to understand the logic behind the rise and fall of the market, distinguishing between a normal rebound and a true reversal, which is the difference between experts and ordinary investors. Since gold is facing upward resistance, the bulls may only be making a brief appearance. Currently, focus on the short-term resistance range of 2628 - 2633 above and the support range of 2600 - 2595 below.
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