Muyao: Bottom support is solidly built for power accumulation; next Monday gold may see bullish consolidation with upward movement

The weekly chart closes with a lower-shadow bullish candle, effectively strengthening bottom support. On the four-hour timeframe, the bullish structure is complete, bearish momentum has been fully released, and an overall bullish pattern has been established.

Due to the US-Iran geopolitical situation, on Monday the gold price may open slightly lower. However, the buying support below is strong; after the low open, a strong rebound is likely. In the short term, an upward push into the 4160-4180 zone will face resistance and consolidation. A brief pullback is only a washout to build momentum for further gains and will not change the overall uptrend.

4070 is the core key support for this cycle. As long as price holds above support, the bullish pattern will continue. This week, there is potential to challenge and break through the 4200 level.

In terms of trading:
Base longs on support. On a pullback to the 4075-4085 range, position accordingly with the plan; targets are 4150-4180, with 4065 as the stop-loss.

Notice:
The above analysis is my personal assessment. The market changes rapidly; the content is for reference only and does not constitute any investment advice! Muyao: Bottom support is solidly built for power accumulation; next Monday gold may see bullish consolidation with upward movement

The weekly chart closes with a lower-shadow bullish candle, effectively strengthening bottom support. On the four-hour timeframe, the bullish structure is complete, bearish momentum has been fully released, and an overall bullish pattern has been established.

Due to the US-Iran geopolitical situation, on Monday the gold price may open slightly lower. However, the buying support below is strong; after the low open, a strong rebound is likely. In the short term, an upward push into the 4160-4180 zone will face resistance and consolidation. A brief pullback is only a washout to build momentum for further gains and will not change the overall uptrend.

4070 is the core key support for this cycle. As long as price holds above support, the bullish pattern will continue. This week, there is potential to challenge and break through the 4200 level.

In terms of trading:
Base longs on support. On a pullback to the 4075-4085 range, position accordingly with the plan; targets are 4150-4180, with 4065 as the stop-loss.

Notice:
The above analysis is my personal assessment. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
$XAUT