Market Overview - On November 17, spot gold initially surged above the $4100 mark, reaching a high of $4106.57 per ounce before retreating to below $4100, with a low of $4048 per ounce, maintaining a defensive stance for the third consecutive day [1] - The expectation of the Federal Reserve's interest rate hike diminished after influential FOMC members expressed skepticism about lowering borrowing costs, which provided some support for the US dollar, acting as a headwind for non-yielding gold [1] - Concerns over the longest government shutdown in US history potentially weakening economic momentum opened the door for further easing policies from the US central bank, stabilizing gold above the one-week low of approximately $4,032 [1] Technical Analysis - The weekly gold chart shows a long upper shadow small bullish candle, with the 5-week moving average turning downward, indicating a potential test of the 10-week moving average support in the short term [2] - The daily chart indicates a significant downward movement last Friday, leading to a contraction in the Bollinger Bands, with prices falling below the 5-day moving average, establishing a basis for potential further declines this week [2] - Key resistance levels to watch this week are around the 5-day moving average at $4130-$4135; if gold remains below this level, larger declines are likely [2] Short-term Outlook - The 4-hour chart indicates a slow upward movement followed by a rapid decline, confirming that the previous rise was not strong but rather a secondary peak [4] - The adjustment wave is expected to start from the high of $4245, with a potential target of breaking the low of $3887, suggesting that existing short positions should be maintained [4] - For the beginning of the week, a test of resistance around $4105-$4110 is anticipated, with aggressive traders advised to consider short positions at $4130, targeting $4080-$4030 [4]
江沐洋：11.17国际黄金走势分析震荡整理后继续高空看下跌
Sou Hu Cai Jing·2025-11-17 17:13