4.2 Gold: Rallying then Pullback Does Not Indicate a Reversal; Buy on a Drop to 4760!


Gold traded strongly this morning, as geopolitical tensions continued to ferment and Trump’s speech was imminent. The safe-haven demand pushed the price to around 4800. A slight pullback is a healthy correction for the bulls, building momentum without changing the overall trend.
Technical analysis: The Bollinger Bands are opening upward, indicating a complete bullish structure with strong support at the middle band. Short-term bullish momentum is contracting, and the KDJ indicator is turning at high levels, suggesting a need for short-term correction.
Key support levels: 4760-4770. A rebound from this zone could lead to another rally; breaking and holding above 4800 opens up further upside potential.
Trading suggestions:
Buy on a pullback to 4760, with a stop-loss below 4740. Target 4850-4880, and look for a breakout above 4920. $XAUT #以太坊基金会质押4620万美元ETH
XAUT-1,96%
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