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April 29 Gold Intraday Strategy: Yesterday afternoon, the market continued its weak trend, hitting a low of around 4550. 4550 has been a key support level emphasized recently, so Lao Niu Duoduan has already entered the market. This post is written when the price is around 4600. If it can stabilize here, we can look at the resistance near 4650. Duoduan is preparing for a long-term hold, but it also depends on the market conditions. You have to eat the meal one bite at a time, and walk step by step.
1: 4600 can serve as the intraday dividing line between Duokong and Kong. Above 4600 is Duokong, below is Kong. If 4600 cannot stabilize, it may continue downward to gather strength, so short positions can target the support at 4570-4550.
2: If there is another opportunity around the support at 4550 below, you can still enter in batches. If the support holds, Duoduan can take the rebound to aim for a long-term hold. $XAUT