Dawn: The Gold Bollinger Bands are tightening, and the short-term market is quietly waiting for direction to be chosen.

Yesterday, gold played out a bottoming-and-rebound scenario. After dipping to the 4648 low in the Asian session, funds flowed back in, and later in the evening price surged to 4748, faced resistance, and pulled back. In the end, the daily chart closed with an upper-shadow bullish candle. Currently, the Bollinger Bands are continuously narrowing, and the short-term fluctuation range has been clearly compressed.
This morning, the gold price continued to trade in a range, hovering around the upper and middle bands of the 15-minute Bollinger Bands (between them). With no major top-tier data on the news front, the market is mainly watching the U.S. dollar; expectations for interest rate cuts remain cautious.
On the technical side, if price holds above the middle band, it may probe the pressure of the upper band. If it breaks below, it will most likely pull back to retest the lower band support at 4712. Overall, it still remains in range-bound consolidation, with no clear one-way signal.
Trading reference:
A pullback to around 4720-4700 can be considered. If the momentum is stronger, consider entries near 4690-4670. If it rises directly, watch around 4730. Targets are 4750 and above.
️ Disclaimer: The above is for market analysis reference only and does not constitute trading advice. The market carries risks; trade cautiously.