February 19, 2026 Midnight Analysis

Cheng Jingsheng wishes everyone a Happy New Year in the Year of the Horse, wishing you a prosperous Spring Festival, smooth investments, and rising account balances!

This morning, gold prices initially fell then rebounded, moving in a volatile range. They were supported around 4960, pushed up to 5020, then faced resistance. Neither bulls nor bears managed to establish a clear trend, typical of a high-level consolidation.

The Fed's rate cut expectations have been delayed, strengthening the dollar and putting pressure on gold prices. However, geopolitical tensions in the Middle East remain unstable, and central banks continue to buy gold for hedging, so safe-haven demand persists. Gold prices haven't fallen sharply, mainly moving back and forth in a tug-of-war. Tonight, there are no major data releases; focus remains on market sentiment and technical levels.

Currently, gold is fluctuating around 4970. Strong support is at 4960-4940; only a break below would suggest further decline. Resistance is at 5000-5020; a breakout above could lead to further gains. The daily chart remains healthy; short-term movement is within a range, so avoid chasing rallies or panicking at dips.

Tonight's trading strategy should be cautious: buy lightly on dips around 4960-4970 with a stop-loss below 4940, aiming for 5000, and watch for a breakout to 5020; if prices rebound to 5000-5020 and face resistance, consider short positions with a small size, stop-loss above 5040, targeting 4970-4960. Strictly set stop-losses, trade lightly, and avoid holding large positions.

The above is only personal advice for reference; it does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies! $XAU ‌#XAU