Gold opened higher today at around 5183, reaching a high of 5198 and entering a sharp upward trend. After dropping to around 5014, the market quickly reversed with a sharp spike, forming a classic V-shaped reversal. The bulls and bears are engaged in a fierce battle.

After this decline, when the price approached around 5060, I analyzed the market and maintained a bullish outlook. I recommend gradually entering long positions between 5070 and 5060, with take-profit targets at 5120-5140. The market responded strongly, reaching the first and second target levels before entering a consolidation phase.

Looking at the 4-hour chart technical indicators, the current gold price trend shows the characteristic of “trend not broken but momentum weakening.” Gold is currently oscillating above the rising 200-period exponential moving average (EMA, $5014.11), indicating that the overall upward trend has not been completely broken. However, bullish momentum has clearly cooled. The 1-hour MACD negative momentum is converging, and the middle and lower bands of the Bollinger Bands are rising simultaneously. This usually suggests potential for further upward correction. Intra-day resistance levels are around 5190-5200, while support zones are at 5000–4960. Overall, the short-term trend favors a slow upward correction within a narrow range.

Risk Reminder: Investment involves risks. Enter the market cautiously. The above content reflects personal thoughts and opinions only and does not constitute trading advice.