$XAUT Yingying: Gold short-term is above the Bollinger middle band—can the rebound continue?

Yesterday, gold first fell then rose. In the Asia-Europe session, it pulled back to around 4638 for a nearby low point. After touching support, the US session kicked off a rebound. In the end, it regained the ground and closed around 4715. The daily chart’s long lower shadow shows that the support below is strong, bearish momentum has weakened, and in the short term, the bulls have begun to dominate the pace.

From the news perspective, the US dollar is trading in a narrow-range consolidation, which provides room for gold’s rebound. The market’s wait-and-see sentiment toward the Federal Reserve’s policy supports the flow of funds involved in low-level range positioning.

From the technical perspective, the current Bollinger Bands indicate that after the price broke above the middle band, it is moving closer to the upper band. The upper band is under pressure at 4726, while the middle band support is at 4692. The Bollinger Bands are opening slightly wider, and the price is running along the upper band. Bullish momentum is still present, but short-term overbought signals are beginning to appear—so be alert to the risk of a pullback after a spike. If the middle band support is held, the rebound may continue; otherwise, it may return to weaker sideways consolidation.

Recommendation: If you see a pullback to around 4700-4680, you can buy. If the pullback is stronger, you can buy around 4670-4650. If price rises directly, you can buy around 4610. Targets are at 4730 and around 4750 on the upside.

Disclaimer: The above content is for market analysis reference only and does not constitute trading advice. The market involves risks, so trade with caution.
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