2.6 Spot Gold (XAU/USD) Morning View

Spot gold has evolved from a pullback after being pressured from a high point into a clear downtrend dominated by bears, currently in a phase of testing stability at a key support level.

The 1-hour price has retraced to the key support range of 4767-4797, with K-line showing an increase in lower shadows and a decrease in the body size, indicating a stabilizing pattern, with buying pressure becoming stronger.

However, the trading volume has significantly shrunk compared to the initial drop, currently only reflecting a short-term correction, without forming a clear counter-attack force.

At this time, the market is in a phase of oscillation and game-playing after the decline, and directional choices need to wait for clear breakout signals.

Overall, it is currently in a key support game phase dominated by bears, with operations primarily focused on shorting in line with the trend, and cautiously buying on dips as a supplement.

Trading suggestion: Short at the 4835-4845 line, with targets at 4780, 4740, 4700.