$XAUT Yingying: Bollinger Bands narrow to build momentum, gold fluctuates at high levels waiting for a breakout signal

Today during the day, gold showed a high-level oscillation trend, trading around the middle band of Bollinger, then dropping to test the lower band support and quickly rebounding, attacking the upper band in the afternoon but facing resistance and falling back, returning near the middle band for consolidation, with fierce battle between bulls and bears, no clear unilateral direction yet.

Market news factors are intertwined, with geopolitical uncertainties and long-term central bank gold purchases providing a bottom support for gold prices; meanwhile, the cooling of market expectations for Fed rate cuts and the phased strengthening of the US dollar index suppress upward momentum in gold prices, causing Bollinger Bands to converge due to the tug-of-war between bullish and bearish forces.

From a technical perspective, the current Bollinger three lines continue to narrow, with the upper, middle, and lower bands forming a clear range, and gold prices testing key levels multiple times without effective breakthroughs, indicating a pre-accumulation phase before a directional move.

Suggestion: If a pullback occurs to around 4685-4665, consider buying; if the pullback is strong, consider buying around 4655-4635; if the market directly rises, consider buying around 4695, with targets at 4710 and near 4730 for upward movement.

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