✅ From the 4-hour chart: Gold formed a high near 3703 and then pulled back, currently trading around 3688. The MA5 and MA10 are turning down, and the price has fallen back below the MA5, showing that short-term bullish momentum has weakened. The MA20 (around 3661) serves as a key support.
The upper Bollinger Band near 3705 is showing strong resistance, and the price has returned to oscillate around the mid-band, indicating that upward momentum is capped. The 4-hour chart suggests weakening bullish momentum, with a potential for consolidation and pullback.
✅ From the 1-hour chart: The MA5 and MA10 are turning downward, creating short-term pressure on the price, while the MA20 around 3687 is providing support.
Gold has broken below the middle Bollinger Band and is oscillating near the lower band, reflecting short-term weakness and the possibility of further testing support. The KDJ has formed a bearish crossover, and the MACD histogram has turned from red to green, showing that short-term bearish momentum is strengthening and there is risk of further downside.
🔴 Resistance levels: 3700-3705 / 3715-3730
🟢 Support levels: 3675-3665 / 3660-3655
📊 Trading Strategy Reference
🔻 Short Setup
● Entry: Sell in batches if gold rebounds to 3695-3700
● Target 1: 3680-3675
● Target 2: If broken, look further toward 3665
🔺 Long Setup
● Entry: Buy in batches if gold pulls back and stabilizes around 3670-3675
● Target 1: 3690-3695
● Target 2: If broken, look further toward 3700
🔥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 , feel free to contact me🤝
