4.14 Gold rebounds strongly, with 4800 under pressure—look for a downside move

On the daily chart, yesterday’s gold price closed with a saturated large bullish candle, completing the previous gap-filling and repair; the moving average system shows a double golden cross diverging upward, keeping the bullish trend structure intact. The current price has entered a high-range consolidation and digestion phase. The MACD and KDJ indicators have pulled back to neutral zones, and the moving averages are somewhat sticking together, indicating the market is in a phase of absorbing profit-taking and rotating positions between bulls and bears—waiting for the next directional choice.

On the 4-hour chart, short-term prices oscillate and rise while supported by the MA5 moving average. The MACD red histogram continues to increase in size and volume. The KDJ indicator runs with a golden cross moving upward, showing strong bullish momentum in the short term. Given that yesterday’s rebound was large and the rebound pace was somewhat too fast, there is a technical need for a pullback correction. Be cautious of the risk of a surge followed by a drop.

On the 1-hour chart, short-term moving averages show a bullish divergence with a multiple-dispersion pattern. Price remains in consolidation and digestion while supported by short-term moving averages, suggesting the short-term rhythm is relatively strong. In the upside, focus on whether there is an effective breakout through the key resistance zone at 4780–4800. If gold is capped near 4800, then in the short term, the gold 4-hour chart still looks like a head-and-shoulders top pattern. Only if it breaks and holds above 4800 can the rebound potentially continue. On the downside, watch the support around the 4700–4710 area. The trading idea is mainly to sell at highs, with buy-the-dip as a secondary approach.

Gold trading strategy: Place sell orders in batches on the rebound around 4790–4800, with a stop loss at 4820 and a target of 4750.

Go long on the pullback in the 4730–4720 area, with a stop loss at 4700 and a target of 4760.

Disclaimer: The above content is only personal thoughts and viewpoints sharing and does not constitute trading advice.