Gold Analysis:
4-hour chart resistance: 4736, support: 4100.
1-hour chart resistance: 4600, support: 4320.
Technically, after ending its continuous decline, gold rebounded yesterday. The daily RSI indicator turned upward after testing below 30. The price found support after breaking through the lower Bollinger Band. On the 4-hour chart, the RSI indicator, after being oversold below 20, saw a bullish counterattack yesterday and has now turned upward back to the 50 level (the middle Bollinger Band). The price has returned to near the middle Bollinger Band, and the moving averages are crossing upwards. On the hourly chart, the Bollinger Bands are widening upwards, the moving averages are crossing upwards, and the RSI indicator is running above the middle band. Gold is expected to have largely established a low point in March, with subsequent price action towards the end of the month mainly characterized by consolidation and rebound.
Today, gold continues its strong bullish trend in the short term. The 1-hour chart shows continuous gains with strong buying support, significantly limiting pullback potential and maintaining a healthy upward momentum. Gold prices are steadily climbing along short-term moving averages, with no significant deviations or overbought signals, indicating a stable trend and no signs of a sharp topping out. If a long upper shadow appears during the session, indicating a pullback after a surge, be wary of short-term downward pressure; otherwise, the overall strategy is to follow the trend and buy.
Gold Trading Strategy:
SELL: 4650-4660, SL: 4680, TP: 4610-4580;
BUY: 4470-4480, SL: 4450, TP: 4540-4580;