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4.14 Simple Gold Morning Review
Yesterday, gold generally fluctuated with a slight upward trend, rebounding after testing the support level around 4644, repeatedly probing the resistance above 4750, and closing steadily above the middle band of the Bollinger Bands. Both bulls and bears fought back and forth, with a clear fluctuation range, and today’s trading strategy is also quite clear.
On the news front, changes in the geopolitical situation have been providing support for gold, coupled with market adjustments to the Federal Reserve’s policy expectations. The conflicting news on both sides influences each other, keeping gold in a volatile trend.
From a technical perspective, the Bollinger Bands are now clearly narrowing, with the upper band resistance at 4749, the lower band support at 4723, and the middle band at 4736, which is a key short-term dividing line between bulls and bears. Currently, the price is near the upper band, with potential to test the resistance further. The narrowing of the Bollinger Bands also indicates that the market will soon need to choose a direction. Focus on the breakout of the range in the early session.
Trading suggestions:
A pullback to around 4720-4745 can be a good entry point; if the market surges directly, consider entering around 4755 with a target near 4790-4800. #黄金 $XAUT