4.20 Gold Weak Rebound, Short-term Continues to Look Downward

On the 4-hour chart, the gold price opened lower in the morning and quickly dropped to around 4737, then stabilized at the previous support level and oscillated upward, forming a bottoming rebound pattern. However, the short-term 5-day and 10-day moving averages still maintain a bullish alignment, and the KDJ indicator has turned upward from the oversold area, indicating that bullish momentum is recovering. The short-term market shows a weak rebound pattern.

On the 1-hour chart, the price fluctuates within the range of $4750-$4815, with Bollinger Bands narrowing and flattening, indicating the market is waiting for new catalysts. The current resistance level is around 4820-4830, with support at 4750/4700. In a ranging market, there is no need to predict a trend; simply adhere to the range boundaries, sell at resistance, and repeatedly harvest profits within the range.

Gold Trading Strategy:

1. During the rebound to 4820-4830, gradually open short positions, with a stop loss at 4850, targeting 4750-4700.

Disclaimer: The above content is for personal ideas and opinions sharing only and does not constitute trading advice.