Gold Evening: Bullish outlook remains unchanged, clear range

Gold Digger Old Cat
2026-04-23

Reviewing the midday, our idea of shorting high and buying low within the 4730-4690 range was fully realized. After touching the upper boundary, the price faced resistance and pulled back, with a low around 4692, precisely reaching the lower support of the range. Then it oscillated slightly, with no bias in the range’s rhythm.

From the 1-hour perspective, the price is trading below the MA5, MA10, and MA20 moving averages. The middle band of the Bollinger Bands continues to press downward, the VR indicator is in a weak zone, and the bearish momentum still dominates, with limited bullish rebound strength.

Tonight, the main strategy remains shorting high and buying low as a supplement. Focus on the 4720-4730 resistance zone above; upon touching, consider short positions targeting the 4680-4660 range, with a breakout potentially reaching near 4640. Support below is at the 4680-4670 zone; initial touches can be lightly long, with a rebound target of 4700-4710. Overall, the rhythm favors rebounds and shorts, and chasing longs is not recommended.

The above content is only a personal trading idea share and does not constitute any investment advice. The market carries risks; trading should be cautious. Please ensure proper position management and risk control.