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Goldtechnicalanalysis

Gold faces resistance at 4700; bears are on the way.Gold opened lower near 4653, quickly dipping to a daily low of 4600 before rebounding, narrowly holding the 4600 level. Buying pressure surged, and the bulls were unstoppable, steadily climbing and recovering lost ground. Currently, it's consolidating around 4690, with a range exceeding 100 points. The shifts between bulls and bears were dramatic, but the low-level support proved remarkably strong. Gold closed with a long lower shadow candlestick, firmly holding the strong support at 4600, effectively defending this key level. Resistance is around 4710, and support is around 4650. Various indicators have turned upwards from low levels, with the MACD histogram narrowing significantly, indicating a sustained rebound momentum. The short-term downtrend has abruptly ended, and the daily chart has temporarily closed above the short-term moving average. Before the Non-Farm Payrolls report, it's likely to remain in a range-bound trading pattern. Therefore, if gold rebounds to around 4710-12 during the US session, consider shorting with a target of 4670-4650 and a stop-loss at 4725.
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Monday's Market Analysis and Short-Term Trading StrategiesGold closed with a long lower shadow bullish candle this week, suggesting a potential for volatile upward movement next week. Support is around 4500, resistance is at 4800, with strong resistance around 4915-5018. A strategy of buying low and selling high is recommended. The daily chart closed with a long lower shadow bearish candle on Thursday, with resistance around 4700 and support at 4643. If the market opens normally on Monday, a strategy of buying low and selling high is suggested as long as the 4643-4700 level holds. If the price stabilizes above 4700, it could move towards 4750 or even 4800-4900. If the price breaks below 4643, it could move towards 4610-4580-4555.
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Gold intraday analysis and trading recommendations for April 3rd4-hour chart: The Bollinger Bands have widened sharply downwards, with strong resistance around the middle band at 4700 and key short-term support at the lower band at 4555. Gold is currently trading near the lower band, just a step away from the intraday low of 4553.24, indicating an extremely bearish short-term trend. The RSI (Relative Strength Index) is currently at 35, in the lower neutral range, approaching oversold territory, suggesting that bearish momentum is still being released, but a short-term rebound is possible. The MACD indicator's fast and slow lines have formed a death cross above the zero line and continue to decline, with the green histogram showing a significant increase in momentum, indicating that the short-term downtrend remains strong. If the price can hold above 4600, a slight rebound may occur, testing the 4650 area; if it breaks below 4600, it will further test the intraday low support level of 4550.
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Will the rebound in London gold prices continue after hitting a From a 4-hour chart perspective, gold prices remain below the 100-day moving average around 4633. The 14-day RSI is around 36, below 50 and not yet in oversold territory, indicating that downward momentum remains but has not fully dissipated. Furthermore, the death cross of the 21-day and 50-day moving averages, confirmed on March 25th, further strengthens the bearish signal. Looking at the price action over the past two trading days, the bearish momentum is gradually being absorbed, but the price is still trading below key short-term moving averages, showing that the short-term weakness has not yet completely reversed. The previous rebound from below $4099 also indicates that buying interest has begun to emerge at lower levels, and the bulls are attempting to regain control. Overall, gold is currently in a wide-range consolidation phase in the short term.
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Gold found support at the 4350 level after a second dip; watch fOn the hourly chart for gold: In the early Asian session, gold stabilized at 4350 and rallied, ending yesterday's downward channel and breaking through the middle Bollinger Band. After a pullback to confirm the middle band in the European session, it has rebounded again. Tonight, the key focus is on the head and shoulders bottom pattern. The right shoulder support area also coincides with the middle Bollinger Band. If gold can hold above 4400-4415, it will likely retest the neckline resistance at 4475-78. Only a break above this level will strengthen the bullish momentum of the head and shoulders bottom pattern. However, if news releases negatively and the 4400 level is breached, the pattern will fail, and gold will weaken again, testing 4350.
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Gold prices fluctuated and adjusted on March 25th; the rebound dIn terms of the current overall trend, the bears still have room to maneuver. It would be more ideal to wait for a short-term rebound before continuing to short. On the upside, we should pay attention to the short-term resistance level of 4635-4650, the important resistance level of 4780-4790, and the key resistance level of 4800-481, which is the dividing line between bulls and bears. On the downside, we should pay attention to the short-term support level of 4500-4490, which is also a key level that both bulls and bears have touched. The main strategy is to short if the rebound fails to break through this level.
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During the US session, pay attention to a breakout from the 4380From the hourly chart, gold is currently consolidating within a converging triangle pattern. Resistance is around 4440, and support is around 4380. Short-term focus is on a breakout from this range to determine the direction! For trading, during the US session, it's recommended to go long near 4380 or short near 4440. This is for short-term trading; strict risk management is essential. Use stop-loss orders strictly on breakouts and avoid chasing the market!
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The gold rebound is not a reversal; continued downward pressure Gold's daily chart still shows a clear downtrend with no signs of reversal. The downward momentum needs time to digest, and a sharp V-shaped recovery is unlikely in the short term. Gold may remain weak for some time. For bulls to make a comeback, gold must break and hold above 4500. Overall, gold is trending weak, but without major news catalysts, the 4000 level may provide some support. However, without a clear reversal, any bullish attempts will likely be limited to rebounds. Today, we should first focus on the resistance level around 4510-4530 from yesterday's US session. In terms of the current overall trend, the bears still have room to maneuver. Ideally, we should wait for a short-term rebound before continuing to short. On the upside, we should watch the short-term resistance level of 4500-4510, the important resistance level of 4550-4580, and the key support/resistance level of 4600-4635. On the downside, we should watch the support level of 4100-4110, which was also a key level touched during yesterday morning's sharp decline. Our strategy is to short on any rebound that fails to break through this level.
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3.24 Bottoming out and rebounding, continue shorting.In terms of the current overall trend, the bears still have room to maneuver. Ideally, we should wait for a short-term rebound before continuing to short. On the upside, we should watch the short-term resistance level of 4500-4510, the important resistance level of 4550-4580, and the crucial support/resistance level of 4600-4635. On the downside, we should watch the support level of 4100-4110, a key level touched during this morning's sharp decline. Our strategy should be to short on any rebound that fails to break through this level.
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Gold prices fluctuated and adjusted on March 20th, with reboundsGold prices rebounded after hitting a low of 4502 last night, indicating that the short-term bearish momentum has largely dissipated, and the market has entered a range-bound consolidation phase. The impact of the Fed's hawkish decision is gradually being digested, and the dollar and US Treasury yields have retreated from their highs, providing a respite for gold prices. Today, we will approach the market with a range-bound strategy. The market opened at 4655 on Friday, reaching a high of 4680 before consolidating. Our strategy remains to sell on rallies. We will focus on the 4800-4805 resistance level, which is also the point where yesterday's bearish breakout occurred. Today is Friday, the end of the week, so we will treat the market with a range-bound strategy, selling on rallies. Currently, looking at the daily gold chart, we are focusing on the 4800-4805 resistance level, which is also the 61.8% Fibonacci retracement level. We will also pay close attention to the 4968-70 level, the breakout point from yesterday's decline. On the downside, we are watching the important 4500-4505 support level, which is also the low point of Thursday evening's rebound.
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