✅ 4-Hour Chart: Gold prices pulled back after reaching 3791, with the lowest dip to 3717. It has since rebounded to oscillate around 3755-3760. The overall movement shows high-level consolidation, with frequent fluctuations between bulls and bears. No clear one-sided trend has formed yet, and we need to wait for a breakout direction.
The moving averages MA5 and MA10 are entangled at the highs, with price swinging above and below them, reflecting a tug-of-war between bulls and bears. MA20 (around 3755) serves as a critical support/resistance, currently at a pivotal state.
✅ 1-Hour Chart: Price rebounded from the 3717 low but faced resistance again around 3760-3765. It is currently fluctuating in the 3740-3760 range, showing a typical consolidation pattern.
The moving averages MA5, MA10, and MA20 are intertwined, with price oscillating around them. If the price fails to hold above 3760 in the short term, the rebound momentum will remain limited.
🔴 Resistance Levels: 3760 / 3785 / 3791
🟢 Support Levels: 3730 / 3717 / 3709
✅ Trading Strategy Reference:
Focus on range trading with selling at highs and buying at lows.
🔰 If gold rebounds to around 3760 and faces resistance, consider light short positions with a target of 3730-3720.
🔰 If price pulls back and stabilizes within the 3730-3717 range, consider short-term long positions with a target of 3760.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions.
