4.22 Bole Gold Afternoon Review:

Rebound breaks through 4760, short-term rhythm snapshot
Market Review
Yesterday, gold prices sharply pulled back from the high of 4891, with the low testing 4668. This morning, prices probed the bottom and rebounded, opening at 4722. The afternoon rebound picked up speed; the current price is 4766, with the intraday high reaching 4771. The day’s gain is 1.01%, and it has already broken through the first resistance level 4731 from the morning note and the medium-term strong pressure at 4759. The US Dollar Index edged lower to around 98.23, and the suppressing effect on gold has marginally weakened.
Market Outlook
Technically speaking, the 1-hour Bollinger Bands have shifted from a downward opening to a narrowing “turn” curling upward. The current price is holding above the original middle band at 4759. On the 30-minute timeframe, moving averages are arranged in a bullish configuration, with the first major overhead pressure moving up to the 4777-4792 range. Downside support has also moved up to 4720-4730; strong support is referenced at 4684, and 4668 is the key defensive level for bulls. Short-term oversold rebound momentum is sufficient, but essentially this is a rebound after a sharp drop. The weak medium-term situation has not yet turned around. Fundamentally, physical buying demand in the Middle East provides bottom support, while US PCE data coming in above expectations suppresses long-term upside. For the short-term rebound rhythm, it needs to rely on a weaker dollar and technical momentum.
Trading Strategy
• Buy-the-dip approach: Build long positions in batches on pullbacks in the 4730-4740 range. Set the stop-loss below 4715, with targets at 4770-4777.
• Sell-the-rally approach: When the rebound hits above 4777 and meets resistance, try a small-position short. Set stop-loss strictly, and strictly forbid chasing orders heavily against the trend.
Disclaimer
The above content is a market opinion sharing and does not constitute investment advice. Investment should be made independently based on your own risk tolerance.