Recently, gold surged to around 5419 before starting to pull back, then plummeted on Tuesday, with a low of 4997. This pattern is consistent with previous declines last year, where the price fell near the daily Bollinger middle band, then after repeated tests, a trend reversal led to an upward move. Currently, the close is at 5141, with the rebound nearly halving the previous decline. It is basically confirmed that this round of correction has completed, and a cyclical rally is beginning.

The daily chart has already closed positively, indicating a sideways upward trend. Such a rally can happen quickly. Watch for short-term resistance at 5230–5240. The 4-hour chart is even more evident: after Tuesday’s initial rise and subsequent fall, Bollinger bands are narrowing, moving averages are converging, and the K-line above 5000 is closing positively and moving higher. Therefore, the major range to watch is between 5000 and 5400. It’s possible that gold could strengthen further this week or next, reaching the high of 5400.
Trading suggestion: Buy near 5130–5140, with a stop loss at 5100, targeting 5180/5200.
Disclaimer: The above content is for sharing personal ideas and opinions only and does not constitute trading advice.