✅ From the 4-hour chart:
Gold has continued to post multiple bullish candles, reaching a high of 4298.55. The price remains near the upper boundary of the ascending channel, with MA5, MA10, and MA20 maintaining a standard bullish alignment — confirming that the medium-term uptrend remains strong.
However, short-term volatility has increased, and gold is expected to consolidate or slightly retrace within the 4250-4300 range, with key support at MA10 (around 4229).
The Bollinger Bands continue to widen upward, with the upper band near 4298 and the middle band around 4184. The price is currently trading near the upper band, showing that bulls are dominant, but the short-term deviation is large, suggesting a potential technical pullback at any time.
✅ From the 1-hour chart:
After surging to 4298.55, gold experienced a slight pullback and is now fluctuating between 4280-4295. MA5 and MA10 have flattened, indicating that short-term momentum is weakening, while MA10 (around 4266) serves as an important short-term support.
The bullish momentum has slowed, and consolidation is increasing. Gold is likely to oscillate within the 4260-4300 range. If it fails to break above 4300 decisively, a short-term correction could follow.
🔴 Resistance Levels: 4298-4305 / 4325-4335 / 4350
🟢 Support Levels: 4255-4265 / 4225-4235 / 4185
✅ Trading Strategy Reference:
🔰 If gold pulls back to the 4255-4265 area and holds, consider entering long positions in batches.
🎯 Targets: 4290 / 4300
🔰 If gold rises again to the 4295-4305 area and faces resistance, consider a light short position.
🎯 Targets: 4265 / 4255
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions.
