Short-term pullback washout; the gold uptrend has not been broken

From the four-hour chart, the uptrend structure in this round of gold price increases has not been damaged. The market is currently in the normal consolidation phase after the rally. The lower band of the Bollinger Bands at 3999 forms strong bottom support; the KDJ indicator releases near-term sell pressure as it moves downward. The adjustment room is relatively limited and this is a healthy pullback.

On the news front, the market continues to weigh the Fed’s interest-rate cut cycle. Disturbances caused by employment data are gradually being absorbed. The long- and medium-term expectations for rate cuts remain intact, and combined with the safe-haven attribute providing downside support, this limits the gold price from falling deeply.

Resistance overhead at 4083 and 4167. Key support below at 4040, with the core defense position at 3999. As long as the key support holds and is not broken, the long-side setup remains.

Recommendations:
Buy in batches on pullbacks around 4010-4030, with targets at 4080 and 4100

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Any risk taken based on it is your own responsibility.