4.29 Buller Early Morning Analysis

1. Market Status
Spot gold opened with volatility, currently under precise pressure at the 4603 key level. After a sharp decline overnight, gold prices are now hovering around the 4600 psychological level, typical of a break below and retest confirmation.
2. News Face: Core Game
FOMC Decision: Tonight is the highlight of the Federal Reserve's April policy meeting. Due to high energy inflation, the market is extremely worried that the Fed will maintain a "higher for longer" tightening policy, which exerts core pressure on gold prices.
Marginal Decline in Safe-Haven Demand: Although geopolitical tensions (such as the Strait of Hormuz) have not fully eased, the market has partially digested this expectation, and the safe-haven premium for gold is rapidly flowing out.
3. Technical Perspective: Bears Are Dominant
Core Support: 4600. If early trading volume breaks below this level, a "free fall" technical pattern will form, with a target of 4580 or even lower.
First Resistance: 4615. If gold cannot effectively recover this line, all rebounds will be just "dead cat bounces," lacking reversal momentum.
Today’s Forecast:
Expected to trade narrowly between 4598 and 4612 in the early session, with trading volume remaining subdued before tonight’s Fed decision.
Concise Strategy: Trend is bearish. If a rebound stalls around 4610, consider short positions, with a stop-loss above 4618; if it directly falls below 4600, do not rush to buy. #黄金##金价##现货黄金#