4.21 Gold Morning Analysis


Market Review
On Monday, gold bottomed out and rebounded, with an early gap down to 4737 before stabilizing and bouncing back, European and American markets fluctuated higher, closing back above 4820, overall showing a bottoming out and recovery pattern, with a bullish correction.
News
• Support: Ongoing Middle East geopolitical tensions, nearing ceasefire between Iran and the US, shipping risks rising, safe-haven sentiment supporting gold prices; global central banks continue to buy gold, strong buying at low levels.
• Resistance: Uncertainty remains over the Federal Reserve's rate cut expectations, which temporarily suppress gold prices.
Technical Analysis
The market remains oscillating at high levels with a slight bullish bias, no clear reversal signals.
The hourly chart stabilizes above 4800 support, with a complete short-term upward structure and higher lows, indicating bulls are favored.
Trading Suggestions (4.21)
• Buy on dips around 4790–4800
◦ Stop-loss: below 4770
◦ Target: 4830–4850, breakouts near 4890
Risk Reminder
Pay attention to US data and Federal Reserve speeches tonight, as they may trigger breakouts; operate strictly at key levels, with small positions and stop-losses.
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