$XAUT Cherry Blossom: The middle band of the Bollinger Bands is repeatedly under pressure, and the ongoing game between bulls and bears continues.

In the morning, gold surged, then pulled back to probe the bottom and rebounded again. After briefly touching around 4707, it quickly dipped, with the low falling to around 4668. It was followed by a corrective rebound. Currently, the price is fluctuating around the BOLL middle band near 4682, as both bulls and bears repeatedly fight over this level.

From the news side, safe-haven sentiment driven by the geopolitical situation and central bank gold purchases provide support for gold prices. However, expectations for the Federal Reserve to delay rate cuts are heating up, and the high interest rate environment continues to weigh on gold prices. Combined with the market’s wait-and-see sentiment regarding the relevant talks, volatility in the market has intensified.

From a technical perspective, the current pancake cycle shows that after the price breaks below the middle band, it finds support at the lower band and rebounds. The current middle band at 4682 is the short-term line between bulls and bears. If it holds, the rebound may continue; otherwise, the price may probe lower again. Overall, the market is in a weak consolidation and repair pattern.

Suggestion: If it retraces to around 4670-4650, you may buy. If the retracement is strong, you may buy around 4640-4620. If the market rises directly, you may buy around 4680, targeting a move near 4700 upward.

Disclaimer: The above content is for market analysis reference only and does not constitute trading advice. The market is risky; trade cautiously.
#黄金