4.1 Gold Morning Review: Strongly Stabilized at 4700, Bullish Momentum Soars
From the latest hourly chart, gold continues its strong upward trend in the morning session. The price closed around 4667 yesterday, and today’s morning saw a rapid rise, now standing at 4706, with an increase of 0.84%, peaking at 4724, refreshing recent highs. The entire market presents a one-sided upward attack pattern, with bulls fully engaged, continuously engulfing previous resistance levels, and prices firmly holding above the MA20 moving average near 4622. The moving average system has shifted from flat to clearly diverging upwards, with short-term support rising layer by layer. Every pullback is quickly picked up by bulls, demonstrating a strong ability for bullish control.
Currently, market sentiment is noticeably warming up, and risk assets are performing strongly overall. 4700 has become a new stronghold for bulls; once stabilized, the upper space will be further opened up, with the 4720-4750 area in sight. The MACD indicator's red bars continue to expand, with strong momentum being released, showing no obvious signs of exhaustion. In this strongly bullish tempo, blindly chasing shorts carries high risks.
In terms of operations, maintain a firm bullish stance in the morning session. Although the current price of 4706 shows short-term overbought signs, the pullback space is limited, and any pullback represents a good opportunity for additional positions or low entry points. Pay close attention to the support zone between 4680-4700 below; if it holds above 4700 throughout the day and continues to expand, gold is likely to continue its strong upward movement. Aggressive traders may take small positions to chase long or buy on pullbacks, while conservative traders are advised to primarily hold long positions, patiently waiting for a breakout above 4725 or clear trend divergence signals before considering reducing positions.
Today's Strategy: The ascending channel is intact, and bullish momentum is strong. Focus on the resistance levels of 4725 and 4750 above; a breakthrough could lead to further targets in the 4780-4800 region.
Operational Advice: Buy on dips near 4680-4700, with targets at 4725-4750-4780 above