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✅ On the 4-hour chart, the price of gold fell significantly after recording a short-term high of 4173, indicating strong selling pressure from above. The price has also failed to stabilize above 4170 on multiple occasions, which confirms the validity of the overhead resistance. The price is currently trading above MA5 and MA10, but the short-term upward momentum is starting to weaken. The Bollinger Bands are also showing some slight tightening, suggesting that the market is entering a higher consolidation range. Overall, gold prices are still fluctuating in a high range, with limited upside space and a tendency to rebound after rising prices.
✅ On the 1-hour chart, gold price rebounded quickly after finding support at 4136, but after testing 4173, a long upper shadow line appeared again, indicating price rejection. Although MA5 and MA10 are still in an uptrend, the candles are often under pressure, reflecting short-term fluctuations. The upper Bollinger Band also posed significant pressure, and many attempts to break through the channel ended in failure.
The hourly chart reflects a weaker uptrend followed by sideways movement, while price action above 4170 suggests buyers are unwilling to chase higher prices, meaning short-term momentum remains weak.
🔴Resistance levels: 4170–4175 / 4182–4190
🟢Support levels: 4136–4140/4109–4115
✅ Trading strategy reference
🔰 1. Sell on rebound (basic strategy)
📍 A small amount of sales are available in area 4170–4175
🎯 Target: 4156 / 4145 / 4136
⛔ Stop loss: above 4182
reason:
Both the H4 and H1 charts show a failure to break above
A long upper shadow indicates strong selling pressure
This area represents the upper limit of the high accumulation range
🔰2. Buy on pullback (secondary strategy)
📍 Consider long trades around 4136-4140
🎯 Target: 4160 / 4170
⛔ Stop loss: less than 4128
reason:
4136 is today’s key support and early callback point
Short-term moving averages provide additional support
As long as the price remains above 4136, buying on the dips in the rebound structure will still be appropriate.
📌Conclusion
Gold is still fluctuating in a high range:
4170-4175 strong resistance → the price is easy to rebound after the test
Strong support at 4136-4140 points → Buyers often intervene on dips
📌Short-term rhythm:
Sell from the top and buy from the bottom – trading range 4136-4175.
