Today’s market trend is basically consistent with previous analysis views. The gold price stabilized and rebounded after hitting a second bottom at around 3720. Investors who previously established long positions near this level have realized substantial profits, successfully reaching their pre-set profit target of 3750 a few hours ago. I have already re-established a long position near 3730.
Since Tuesday’s breakout, the market has been fluctuating and consolidating between 3760 and 3720, reflecting the ongoing tug-of-war between bulls and bears in this area. For traders, this type of range-bound market has more operational advantages than a unilateral trend. It not only provides opportunities for long orders, but also creates space for short orders, which is conducive to obtaining stable trading profits.
From a short-term technical perspective, we need to focus on the key resistance levels of 3750 and 3760. If the price effectively breaks through the above positions, it may open up further upside space. If gold prices pull back to the 3735-3725 range without a clear breakout, traders who are not already holding positions should consider establishing long positions in this area in batches.
Trading Strategy:
Buy Range: 3725-3735
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