✅ After a continuous rally, gold faced resistance around 3599, with significant short-term selling pressure. The price has moved far from the MA20 (around 3547), creating a short-term deviation. Without continued volume support, there is a risk of a technical pullback. The MACD histogram is shrinking, and both DIF and DEA are flattening at high levels, indicating weakening bullish momentum. The KDJ is in the overbought zone (K > 80) and showing signs of topping out, suggesting an increased probability of a short-term correction.
✅ The 4-hour chart shows that gold’s upward momentum is weakening, with a higher likelihood of sideways consolidation or a minor pullback. Key support lies at 3568-3575, and if this level breaks, the next support to watch is 3540-3550.
🔴 Resistance: 3600-3605
🟢 Support: 3550-3560
✅ Trading Strategy Reference:
🔰 If the price rebounds but fails to break above 3600, consider light short positions with targets at 3570-3550.
🔰 If the price pulls back to 3560-3570 and stabilizes, consider scaling into long positions, targeting another breakout above 3600.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions. If you have any questions or need one-on-one guidance, feel free to contact me🤝
