Gold/XAUUSD is fluctuating in a narrow range, continuing to go long
Yesterday, gold continued its decline from Friday, opening lower in the morning and rebounding after hitting a low of 4967, returning to above 5000. The high reached 5036 before falling again. Our long position also perfectly realized 50 points. During the European session, the decline continued, testing 4970 again, and during the US session, it rose again to 5037 but faced resistance and fell back. In the evening, the first long then short positions realized 40 and 50 points respectively!
Currently, gold maintains a narrow fluctuation on the daily chart, with three consecutive bearish candles forming a doji yesterday. Both bulls and bears appear cautious in their contest. On the 4-hour level, it operates between 4970-5040, while on the 1-hour level, it has entered a narrow range with downward momentum gradually weakening, continuing to go long in the short term.
Entry opportunity: Go long near 5000, target 5040-5080