April 23 Gold Midnight Analysis;

News Side
Gold is now mainly watching the "stalemate" in the Middle East: Old Trump says to pause for a few days, but the other side doesn't buy it at all, not only being stubborn but also seizing ships, and the Strait remains tense. This kind of "fighting while negotiating" deadlock makes everyone afraid to fully relax, so gold can't fall sharply; but luckily, there's no full-scale conflict yet, and gold's rise isn't as crazy. Currently, it's a stalemate stage, everyone is watching closely, and if there’s any sudden movement on that side, gold will definitely fluctuate greatly again.
Technical Side
Looking at this 10-minute chart, gold just held at 4715 after falling, now rebounding near 4738, recovering quite quickly. The moving averages are also starting to move upward, indicating that the bulls want to regain control. However, the 4747 to 4750 level is a tough nut to crack; if it can't break through, it will have to fall back. The 4730 level below has now become a defense line. Overall, it's a situation where it can't fall further, wants to push higher but is a bit difficult, so be cautious of potential sharp drops.
Trading Suggestions
Short-term trading advice focuses on low bulls and high bears.
Bulls: You can wait for a slight position at around 4720-4700 on dips to test the bulls, with targets around 4750-4770.
Bears: If gold surges to around 4745-4765 and faces resistance, you can lightly short with a small position, targeting back to around 4715-4685. #XAUUSD❤️