Gold Morning Analysis



Recently, gold has been fluctuating within a narrow range at high levels, with the bulls and bears gradually cooling off. Yesterday, the gold price consistently moved back and forth between 4550 and 4580, with continued consolidation during the Asian and European sessions. The US session was quiet with reduced trading volume, and overall, the market is in a stage of building momentum for an upward move, maintaining a strong bullish pattern.

From the chart perspective, after a short-term pullback, support remains solid. The 15-minute Bollinger Bands are continuously narrowing, and the price is staying above the middle band, indicating a complete bullish formation. The consolidation at high levels is not a sign of weakness but a buildup before a surge. For intraday trading, stick to the trend-following approach, mainly buying on dips.

Trading Recommendations
Buy near 4540-4550, add positions on dips around 4500-4510
Target 4575-4585, with a breakout aiming for the 4600 resistance level
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