En Ze: Structural Correction Bounce, Bull Restart Premature

Gold is currently dominated by correction-driven movements. After touching the 4100 level on Monday and bouncing, Tuesday closed positive, Wednesday saw bulls continue their surge, and the daily chart is likely to close positive again. Daily-level bullish momentum is gradually stabilizing, entering a stage of high-level consolidation.

Yesterday morning, gold price broke through 4512, with the rebound continuing as expected. The market is hotly debating whether bulls are restarting, but from a technical perspective, it's still premature. The weekly adjustment pattern remains unchanged; this is only a structural correction bounce. The cycle adjustment still requires bull-bear grinding.

Overall, bears still have residual power. Key resistance to watch above: 4635-4650 short-term resistance, 4780-4790 critical resistance, and 4800-4810 bull-bear dividing line; Support below: 4500-4490 short-term key support, this level is the core battleground for bulls and bears. Specific operational strategies intraday will be provided in real-time.

Gold Trading Strategy

Short on the 4630-4650 level, add short positions on 4670-4690, stop loss at 4710, target 4505-4500, can continue holding if broken;

Long on the 4490-4500 pullback stabilization, add long positions at 4460, stop loss at 4445, target 4630-4635, can continue holding if broken.

Reminder:
The above analysis is En Ze's personal analysis. Markets change rapidly; this content is for reference only and does not constitute any investment advice!
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