Gold Morning Report | Asian session breaks through 4770, Bollinger Band upper band becomes a key resistance!



During the Asian session, spot gold fluctuated and moved higher, currently at $4,760 per ounce, up +0.53%, reaching a high of $4,773 per ounce during the session.

From a technical perspective, the Bollinger Bands have slightly widened, with the price relying on the middle band (4706) to move upward, now approaching the upper band resistance level of $4,781. If the price can hold above 4760 and break through the 4773-4781 area during the day, it could further open up the upside space; conversely, if it encounters resistance and pulls back, attention should be paid to the support near the middle band at 4706.

In the short term, focus on the dollar trend and geopolitical news disturbances. The current market sentiment is bullish, but caution is advised when chasing highs.
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