Liang Ge Daily Golden Profits—Gold Weekly Outlook: High Position Collapse Breaks 5020, Technical Double Top Pattern Emerges!

Market data shows that the current gold price closed at 5018, with an intraday decline of over 60 points, expanding losses to 1.19%. After the previous rebound stalled at the 5128 level, prices rapidly plummeted, breaking through the 5100 and 5020 round number levels consecutively intraday, with the lowest touching the 5009 key support level, just one step away from the 5000 psychological level.

From a technical perspective, the daily chart presents a typical high-level stagnation pattern. The SAR indicator points to 5300, but prices have been constrained by this trend line for consecutive days, with upward momentum clearly exhausted. If the intraday low of 5009 breaks further below, the daily double top structure will be officially established, and technical selling pressure may accelerate.

Worth noting is that while after-hours trading rose slightly by 0.03%, domestic gold T+D futures declined 1.03% synchronously, with weakened linkage between onshore and offshore markets often signaling short-term liquidity risks. The hourly chart shows consecutive long upper shadows, with multiple attempts at bullish counterattacks repeatedly frustrated. The defense of the 5000 level appears difficult to sustain.

On operations, trending with the market is the best strategy. In the spot market, buy quotes are at 5018 and sell quotes at 5019 with a narrow spread, but volume-less rebounds have exposed the hollow nature of the bulls. If next week's opening cannot reclaim above 5050, the next target will aim directly at the 4900 level.

(The above analysis is purely personal opinion for reference only. Markets change rapidly; trading based on this is at your own risk.)