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✅ Judging from the 4-hour chart, after the gold price hit a high of 4245, the price continued to fall and was broken through one after another. It is still trading below all short moving averages (MA5/MA10/MA20). This suggests that the downward trend on the larger time frame is still in place.
MA5 < MA10 < MA20 — This indicates the continuation of downtrend orders, with each rebound wave being rejected near MA10 (4110).
MA5 < MA10 < MA20 — This indicates the continuation of downtrend orders, with each rebound wave being rejected near MA10 (4110).
đŸ’¹Bollinger Bands:
The lower boundary continues to extend downward, while the midline (near 4146) slopes downward, and the lower boundary has moved towards 4035.
The price of gold is currently fluctuating weakly near the lower boundary, indicating that the selling pressure is still continuing and the support area below has not yet stabilized.
✅ Judging from the 1-hour chart, the gold price failed to stabilize above MA20 (about 4084).
MA5 and MA10 exert downward pressure, while MA20 and MA60 form strong resistance. Each retracement candle also shows an upper tail, which indicates strong selling pressure.
The 1-hour chart shows a weak consolidation trend with no clear bottom or signs of reversal.
đŸ’¹Bollinger Bands:
The channel is tightening at the lower levels, with the midline (near 4084) moving sideways.
The market is consolidating at the bottom and may be trending soon – with a higher chance of falling and continuing the major downtrend.
đŸ”´Resistance levels:
4120–4110 / 4150–4140
đŸŸ¢Support levels:
4060–4050 / 4035–4032
✅ Trading strategy reference:
đŸ”° If the gold price rebounds to 4110-4120 and encounters resistance, you can consider short selling.
The target may be 4050-4030.
If it continues to fall, we can target 4000 points, then 3930-3887 points.
đŸ”° If the gold price rebounds to 4140-4150 and there is price rejection, you can enter the market at a high level and sell, with the target of 4100-4080.
đŸ”° If the gold price falls to 4035-4040 and stabilizes, you can consider light buying with a target of 4060-4080.
đŸ”¥ Important notice:
Trading strategies depend on market timing, and price movements can change quickly.
Please adjust your trading plan according to actual market trends.
