Muyao: Gold steadies in the early session and rebounds—an overview of key level layout ideas

Yesterday, the US April CPI data played out as a bearish development, and spot gold suffered a sharp selloff, falling sharply in a single day. Today, focus on PPI and EIA crude oil inventory data, which will drive the short-term market rhythm.

The US dollar is currently trading in a narrow range, and the market is waiting for the Federal Reserve’s policy decision, creating an opportunity for gold to rebound. On the four-hour timeframe, the long-side structure is intact. Gold is consolidating near high levels and gradually stabilizing, breaking through the Bollinger Bands’ middle band and moving closer to the upper band. 4726 is short-term resistance, while 4692 is the key support. The Bollinger Bands are opening upward (slightly bullish), but there are signs of short-term overbought conditions, so be alert for a surge followed by a pullback.

Downside support to watch is 4700 and 4680; upside resistance to watch is 4730 and 4750. Trading suggestion: pull back to 4700–4680 and buy in batches; if price dips further to 4670–4650, you can add longs. If price moves upward directly and you follow the trend, targets are in the 4730 and 4750 area. #黄金 $XAU3L