April 29 Gold Analysis



The gold market fell sharply yesterday, with a unilateral decline, and the overall trend has clearly shifted to a bearish one.

Daily level: The stochastic indicator has formed a death cross and is diverging downward, clearly indicating a bearish outlook. Prices continue to fluctuate downward, and the pattern is entirely dominated by a bearish trend. The main support below is around 4450.

4-hour level: Both the stochastic indicator and MACD are in a sluggish state at low levels, showing no signs of stopping the decline or reversing; the pattern still faces downward pressure, and no stabilization signals are visible for now. The first short-term support is around 4550.

Comprehensive judgment: In the short term, 4550 is not the bottom of this round of decline, and there is room for further downside. A prudent approach is to wait for a pullback to around 4450 before considering a rebound for long positions; intraday trading should focus on shorting near the rebound highs in the 4600–4620 range, riding the trend to short.
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