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Gold Morning Session Analysis:
In the morning, the gold price opened with a gap up and jumped higher, driven by the impact of geopolitical conflicts, testing the 4100 resistance level. The high reached around 4116.
After rallying to around 4116, the gold price quickly fell back near the 4100 level. The bulls lacked sustained follow-through, and there was insufficient upward momentum for further gains.
In the short term, gold is strengthening. The current rebound is a good opportunity for us to get in. There is a need to fill the gap below, so do not chase the price at current levels.
For intraday trading, the focus remains on going short. Watch the breakout conditions above 4115 and 4130.
Trading suggestion: Short at 4115 and 4135 zones, with targets at 4050 and 3900.