Market Sentiment: Macroeconomic Support and Bullish Technical Momentum

Daily Chart: Strong bullish pattern, plenty of upside momentum

The daily chart shows that gold prices are continuing their upward trend in the medium term. Yesterday’s bullish candle, which was marked by a long lower shadow, completed a “V”-shaped reversal pattern; the day’s continuous upward closing also formed a second consecutive day of gains, causing the price difference formed on Monday to be completely compensated, demonstrating the absolute dominance of the market’s bullish power. The price remains firmly above the 5-, 10- and 20-day moving averages, where the moving average system shows a typical bullish alignment. The 5-day (MA5) and 10-day (MA10) moving averages rose to $4745 and $4715 respectively, forming gradual support levels. As for the Moving Average Convergence and Divergence (MACD) indicator, the indicator’s fast and slow lines form a “golden cross” above the zero line, and the red momentum column continues to rise. The (KDJ) and (RSI) indicators are also in strong territory and have not reached “overbought” territory, which indicates greater upside potential. The Bollinger Bands are expanding upward, and the price is closely following the upper limit of the Bollinger Bands, with obvious focus on the important psychological level of $4,800 in the short term. 4-Hour Chart: Standard ascending channel, every pullback represents a buying opportunity

The 4-hour chart shows a clear ascending channel; The bottom rises steadily from $4,644 to $4,750, while the top moves up toward $4,795. Each pullback (correction) towards the bottom line of the channel received strong buying support, indicating a solid bullish pattern. Bollinger Band (Bollinger Band) Bollinger Band (Bollinger Band) الارتفاع ودعم The golden MACD crossover shows stable volume without any sign of bearish divergence; The KDJ indicator has also turned upward again after making a correction at a medium to high level, indicating a second wave of upward momentum. The Relative Strength Index (RSI) is stable above the 50 level. Short-term focus is on the resistance between $4,795 and $4,800, as well as the support of the “Bollinger Band” lower track of $4,750.

Hourly Chart: Sideways trend rather than correction, strong trend is obvious

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