During the early Asian session, gold prices continued to rise, reaching a high of 4659. With the current opening of the European session, the hourly bullish trend remains unchanged. Although a bearish divergence has appeared on the 15-minute chart in the short term, personally, I believe this is more of a process of repairing the market while prices continue to rise.
At the current gold price of $4640, those who have not entered the market should still view this as a risky level. Those entering at the current price may also fail to hold their positions because of a minor fluctuation, only to regret it deeply after gold rises further. They may not have considered how much courage was required for those who dared to go long at the bottom!
Now that the European session has opened, gold is also experiencing high-level consolidation. In the afternoon, watch the short-term support at 4630 and the hourly 20MA. If gold can pull back to around the 4630—4620 range, those who have not entered the market can try to establish a long position with a light allocation, set a stop-loss at 4600, and target 4650 for take-profit. #黄金 #伦敦金 $XAUUSD