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Mu Yao: The tug-of-war at the 4790 level, range-bound oscillation awaiting a breakout!
The midday gold price fluctuated above 4790, rebounding after testing support at 4775-4780 in the morning session. Long positions have already taken profits, currently there is a stalemate between bulls and bears with no clear direction.
News: The decline in U.S. Treasury yields supports gold prices, but the delay in rate cut expectations and cooling risk aversion sentiment limit upward potential.
Technical: Daily chart shows high-level consolidation, the 4-hour Bollinger Bands are tightening, short-term range is 4770-4830, support at 4775-4780, resistance at 4800-4830.
Trading suggestions: Light positions with a small long at 4780-4790, targeting 4800-4820; at 4820-4830, face resistance with a small short, strictly stop-loss, do not chase orders.
Reminder:
The above analysis is Mu Yao's personal view. The market is ever-changing; the content is for reference only and does not constitute any investment advice!#GatePreIPOs首发SpaceX