Gold’s daily chart broke through its previous high, extending its upward trend. A large bullish candlestick indicates strong bullish momentum, while short-term moving average support remains intact, with no sign of a top. The 4-hour chart is consolidating at a high level, with limited pullbacks. A second uptrend is expected after this correction. The hourly chart shows a slight weakening of the technical pattern after a narrow range-bound movement. The K-line moving average, under pressure, suggests a possible short-term correction, but the overall trend remains bullish. Trading strategies should wait for the pullback to end before entering the long position. The trend is strong and sustainable, so we recommend buying on pullbacks. Focus on the strength of the correction and the real-time breakout momentum.
Gold Trading Recommendation: Buy on pullbacks to 3530-3520, with a target of 3545-3560.
