OEXN:金银创纪录后大幅回落

Core Viewpoint - The gold and silver markets experienced significant selling pressure, resulting in one of the largest single-day declines in history, primarily due to profit-taking by short-term futures traders and the liquidation of some long positions [1][3]. Market Dynamics - Prior to the decline, silver reached a historical high of $82.67, while gold peaked at $4584.00. The current drop reflects intense correction pressure after high-level fluctuations [1][3]. - Despite the significant drop, the market is viewed as undergoing a corrective pullback within an upward trend, with no fundamental damage to the technical structure [1][4]. Future Outlook - The next 48 hours are critical; sustained selling pressure could indicate a recent top has been established, while a quick rebound could establish today's low as an important support level [1][4]. External Environment - The US dollar index showed slight strengthening, while crude oil prices fluctuated around $59.25 per barrel. The 10-year US Treasury yield was recorded at 4.118% [2][4]. - Due to year-end liquidity adjustments and position deployments, December gold futures contracts have seen unusual activity on the Chicago Mercantile Exchange [2][4]. Technical Analysis - Gold futures bulls are attempting to recover and challenge the $4584.00 high, with the first resistance level at $4400.00. Conversely, bears aim to push prices down to the core support area of $4200.00. The Wyckoff market rating for gold remains at 7.5, indicating resilience among bulls despite setbacks [2][4]. - The silver market displayed a "buy exhaustion tail" and a "key reversal" signal, indicating strong bearish warnings. Bulls need to reclaim above $82.67, while bears target $67.50. The $72.50 to $73.00 range has become a short-term resistance [5]. Conclusion - The current volatility in the gold and silver markets reflects an intense battle between bulls and bears, with the ability to stabilize in the coming days being a key signal for determining whether the current bull market will enter a deeper correction [5].