4.2 Muyao Morning Commentary:

Yesterday, in the US session, gold continued its strong bullish trend, steadily rising towards the 4800 level. The overall bullish momentum remains strong, with no clear signs of reversal, and market sentiment continues to favor the bulls.

The 4-hour chart is particularly important. The candlesticks are continuously supported by short-term moving averages and are steadily climbing higher. During pullbacks, prices have not effectively broken below the moving average support, maintaining a healthy oscillating upward structure. Prices successfully broke through the previous short-term resistance zone, breaking the stalemate of high-level consolidation. Bullish momentum is gradually being released, and the short-term upward space has not been fully exhausted.

Key resistance above is around 4820–4830, an area that has historically been a dense zone of resistance. If a strong breakout occurs, gold prices could further extend their upward move.

For a pullback, consider entering around 4760–4770, with targets near 4850–4860.

Note:
The above analysis is Muyao’s personal view. Markets are constantly changing, so this content is for reference only and does not constitute any investment advice!