Yesterday, gold broke through the previous high of 4550 strongly, completing a classic top-bottom reversal. During the US trading session, it even stabilized above the key support level of 4600, establishing a strong bullish pattern. The earlier long strategy at 4565 also successfully took profit and exited.

From the 4-hour chart, the gold price remains closely aligned with the short-term moving averages at a high level, showing no clear signs of topping out. The hourly chart even formed a beautiful V-shaped reversal, with a single bearish candle retracement followed by a new high, and the lows continuously moving higher, indicating that the bulls are still quite resilient.

The current critical level is at 4585. As long as the price stays above this level, the bullish trend will appear extremely strong. The next trading approach is to buy on dips, with around 4575 being a good entry point. The short-term target can be set between 4640 and 4700. If the pattern continues to hold well, there is a long-term opportunity to push towards the 5000 level.