4.29 Bole Evening Market Analysis

Market Conditions

Intraday highs faced resistance and pulled back, the European session maintained narrow fluctuations, rebound strength was very weak, overall showing a weak oscillating downward trend, and the evening session continued to consolidate at low levels.

Key Technical Levels

Resistance: 4580-4600 (strong resistance in the evening, top-bottom reversal point), 4630 (secondary resistance)
Support: 4550 (short-term core defense), 4500 (strong key support)
Cycle Pattern: Daily chart turning bearish with a head and shoulders, 4-hour moving averages in a bearish alignment, 1-hour low-level sideways consolidation, overall trend clearly biased downward.

Core Logic

The US dollar slightly strengthened + expectations of rate cuts cooled down, directly suppressing gold prices; geopolitical favorable factors are weak, funds are fleeing from high positions, short sellers dominate the short-term market, rebounds are only corrective moves, with no reversal signals.

Evening Trading Strategy

1. When a rebound reaches the 4575-4595 range, go short directly, with a stop above 4630, first target at 4550, and if broken, follow the trend to look at 4500;

2. Hold at 4550 without chasing shorts, only take high-level shorts, do not blindly bottom-fish;

3. Once the price breaks below 4550 in real terms, lightly add short positions following the trend.

Market Summary
The core focus in the evening is on the 4550-4600 range, the trend remains bearish, operate only with the trend, using rebounds to short as the main strategy, strictly adhere to key support and resistance levels.