Enze: Gold consolidates and shakes out without changing its bullish strength; today’s range trading strategy

The situation in the Middle East heats up again. A brief ceasefire and the breakdown of negotiations leave the market confused. The failure of the US–Iran talks further heightens inflation concerns, rate-cut expectations have basically been ruled out, and global bond markets are under pressure.
On Monday, gold gapped higher again, and crude oil opened higher. Gold’s weekly candle closed bullish, and both the daily and weekly charts maintain a long-biased structure. In the short term, it is mainly characterized by consolidation and shakeout.
The key weekly support is at 4620-4630. If it does not break, this week will stay with a range-bound, slightly bullish mindset. In the short term, it is unlikely to see a big one-way move; most of the action will be wide-range shakeouts driven by the news flow.
On the upside, watch the gap-fill area at 4750-4770. On the downside, look at the 4620-4630 support zone. Trade within the intraday range; the specific levels are subject to Enze’s real-time layout.

From the 4-hour price action, due to the news stimulus, on the upside the main focus is the gap area at 4750–4770, and on the downside the key support is at 4620–4630. For execution, it is temporarily mainly range high-sell and low-buy. The detailed real-time strategy will be followed up and prompted during the session—please stay tuned and continue to watch.

Gold trading strategy:

Buy after a pullback at 4625–4630, stop loss at 4613, target 4690–4700. If it breaks through, you may continue to hold;
Sell on rebounds at 4748–4765, stop loss at 4773, target 4695–4700. If it breaks through, you may continue to hold.

Reminder:
The above analysis is Enze’s personal analysis, for reference only, and does not constitute any investment advice!
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