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4.1 Simple Gold Morning Review
Yesterday, gold bulls performed strongly, with prices fluctuating higher and closing near 4667. The daily chart shows a large bullish candle, with the bulls holding an absolute dominance.
The Federal Reserve's dovish stance continues, with expectations of rate cuts rising, combined with geopolitical support, giving gold strong momentum. Tonight, focus on the ADP data; after the release, a wide-range fluctuation is likely.
Gold price remains steady above the 4600 level, with an upward trend clear. Short-term support is at 4630-4650, with resistance at the 4700 round number. Breaking through could lead to further gains.
Trading strategy:
Do not chase highs; wait for a pullback and stabilization before going long. Strictly control position size and stop-loss.
Recommend gradually adding long positions in the 4635-4655 range, targeting 4680-4700; if the level stabilizes after a breakout, look for 4720-4750. $XAUT #外汇黄金 #现货黄金