Moyao: Bearish momentum is waning; consider going long at low levels to seize the rebound opportunity



The hourly gold chart shows a small bullish candlestick pattern, with the MACD green momentum bars continuously shrinking, indicating that the bearish strength is gradually diminishing, and there is a clear short-term need for a rebound correction.

The first major resistance above is at the 4700 integer level; if it can firmly hold above this level, it can further target the 4720 mark; the short-term support below is at 4680, with 4660 being a key strong support level.

Trading idea

The market is likely to continue the low-level rebound trend. After testing and stabilizing at the support zones of 4650 and 4660, consider gradually adding long positions; in the short term, target the range of 4700-4720. Upon successful breakthrough, look towards 4750, with the medium-term trend still aiming at the 4800 level.
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