Gold breaks out strongly, trend completely rewritten

From a technical perspective, on the four-hour chart, gold prices previously dipped deeply to around 4510, completing a bearish release and then rebounding strongly. The price broke through the middle band of the Bollinger Bands, with support below thoroughly solidified. Meanwhile, the KDJ indicator turned sharply upward from low levels, with bullish momentum continuing to expand. The short-term rebound momentum is very strong, and the bearish trend is announcing a phase of ending.

On the news front, market risk aversion sentiment has increased, coupled with expectations of inflation data, leading to a widespread warming of bullish sentiment, aiding gold in counter-trend recovery. After sufficient accumulation at previous lows and the completion of bearish digestion, funds have flowed back significantly into the bulls.

Suggestions:
Pull back to around 4580-4600 in stages to buy, targeting 4650, 4680, with a break above looking toward above 4700.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.