April 22 Simplified Gold Evening Review

Today during the Asian trading session, gold continued its previous upward trend and pushed higher, reaching a peak of 4772 at one point, but after that, it encountered resistance and couldn't go higher. In the afternoon, the market gradually started to fluctuate and decline, with the current price around 4757. Overall, it’s a pattern of rising sharply and then pulling back, a technical correction and recovery.

The current geopolitical situation has led to safe-haven buying, which still provides some support for gold prices. However, the overall market trading atmosphere remains cautious, as various funds are waiting for the release of major economic data tonight to guide the market direction. Both bulls and bears are temporarily at a stalemate, with neither side gaining an advantage.

Looking at the technical aspect, the Bollinger Bands are gradually flattening out, with the upper band around 4769 forming a short-term strong resistance level. After the price pulled back, it is now testing the key support at the lower band around 4750. The cyclical moving averages still maintain a bullish alignment, but the pace of the upward movement has clearly slowed, and the bullish momentum is gradually weakening. Tonight, focus on whether this support zone can hold.

Trading reference:
If the price retraces to the 4745–4725 range, consider gradually entering long positions, with initial targets at 4775 and further at around 4835. #黄金 $XAUT