In the afternoon European session open, the gold price pulled back after reaching $4,084—it was right when I posted in the afternoon that it turned.

On the four-hour timeframe, the gold price looks set to break through the Bollinger Band midline and run upward. The Bollinger Bands are currently opening upward, but the KDJ three lines are oversold. For the evening, you still need to watch for a technical correction if the gold price retraces. If the pullback does not break the $4,040–$4,020 range, then the gold price will continue to rebound upward.

For the evening, my personal suggestion for next steps is to first watch for the pullback. If the pullback in the $4,040–$4,020 area does not break, then consider setting up long positions. Do not blindly chase entries.

The analysis above is for reference only and does not constitute any investment advice. Financial markets are volatile; investing involves risk, and you should be cautious when entering the market. $XAUUSD ‌