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[Gold Asian Session Analysis] 4500 Stabilizes and Rebounds, Can the Short-term Bullish Momentum Continue?
From the 1-hour K-line chart, after the gold price dipped to the 4500 low in the early session, it found effective support, followed by a clear V-shaped rebound.
Currently, the price has stabilized above 4530 and is testing the resistance near 4550.
Key levels to watch:
Resistance above: Focus on the previous high at 4546 and the descending trendline below at 4660. If it can break through and hold above 4546, there is potential for further upward movement in the short term.
Support below: Short-term support is at 4523 (today’s opening price), with strong support still at the 4500 integer level. As long as it does not fall below 4500, the bullish pattern remains intact.
Currently, during the Asian session, bullish sentiment is temporarily dominant. Do you think the European session will continue the rally or see a pullback? Feel free to share your views in the comments!