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✅ Judging from the 4-hour chart, the price of gold is still in a volatile range after rebounding. After the price rebounded rapidly from the 4022 area, it is currently running above MA5 and MA10, indicating that the short bullish momentum still exists, but the resistance pressure above is still strong. The price is running above the middle line of the Bollinger Bands, showing that the Bollinger Bands have narrowed slightly, which indicates that the market has entered a stage of sideways fluctuations.
✅ According to the structure of the 1 hour chart, the market is trending upward by forming higher highs and lows. Despite a slight convergence between MA5 and MA10, the price has regained stability above the short-term moving averages, indicating that bullish momentum continues to dominate.
🔴Resistance: 4156–4160 / 4170–4180
🟢 Support levels: 4110–4120 / 4070–4080
✅ Trading strategy reference
🔰 Focus on selling on rebounds
📍 4156–4160 Sold nearby
🎯 Target: 4135 / 4120
⛔ Stop loss: above 4170
This area is considered strong resistance on the 4-hour frame and has been tested multiple times without a breakout, making it a favorable area for short trades.
🔰 Buy on correction
📍Consider buying gold near 4126-4130
🎯Target: 4155/4160/4170
⛔ Stop loss: less than 4115
The hourly moving average system provides clear support. As long as the price remains above 4115, the uptrend is expected to continue.
🔥 IMPORTANT WARNING: Trading strategies are time-limited and market conditions can change rapidly. Please adjust your trading plan according to actual market trends.
