4.8 Gold fluctuates within the range, beware of midnight plunge

On the 4-hour chart, gold prices are oscillating and recovering, with weak momentum. MA5 and MA10 are nearly overlapping, indicating that the bullish and bearish forces have reached a short-term equilibrium, lacking a clear trend direction. The MACD shows a bullish crossover below the zero line with decreasing red bars and flattening double lines, indicating a risk of a second death cross. The bullish momentum is insufficient. RSI has fallen back to the neutral zone of 40–50, indicating balanced bulls and bears. KDJ is turning downward from a high level, suggesting a short-term pullback. The Bollinger Bands are flat and narrowing, with prices oscillating near the middle band.

On the 1-hour chart, the short-term trend is weak, with range-bound movement. The three lines form a death cross, and the J line is below the K/D lines, indicating short-term bearish momentum is dominant. Prices may continue to correct downward. The MACD shows a death cross below zero with increasing green bars. Currently, indicators are in a low and sluggish state. If a KDJ golden cross occurs near the support zone of 4610–4620, it will be an effective short-term buy signal. The upper resistance is at 4680–4700. Overall, the rebound is mainly for shorting high, with low positions limited to oversold rebounds.

Gold trading strategy: Short after resistance at 4680–4690, stop loss at 4710, target 4650–4630.

Look for a buying opportunity near 4615–4620; if it effectively breaks below 4600, it shifts to a bearish trend.

Disclaimer: The above content is for sharing personal ideas and opinions only and does not constitute trading advice.