4.16 The Fourth's Morning Gold Outlook

Yesterday, gold surged and touched above 4870, then met resistance and pulled back. During the session, there was a nearly one-way correction of close to a hundred points. Although there was a small rebound at the end of the day to repair the move, the rebound strength was weak. Selling pressure at high levels became noticeably stronger, the pace of short-term upward movement slowed down, and the market entered a phase of range-bound consolidation and adjustment.

On the news front, geopolitical developments, crude oil price movements, and expectations for subsequent policies still involve significant uncertainty, continuing to provide support for gold prices from below. However, after gold prices keep rallying, profit-taking positions at high levels have begun to gradually exit, and sentiment of bulls locking in profits is warming up, leading to increased volatility in the short term.

Technically, from the hourly chart perspective, the price is under pressure and moving downward, with short-cycle moving averages and indicators weakening in tandem as they pull back. However, the overall low point is still gradually rising, and the medium-term bullish trend structure has not been broken. At this stage, this is a normal pullback and adjustment during an upward process. As long as key support levels are held and not broken, the bullish setup will not change, and there remains an opportunity for another push higher in the future.

For trading, you may go long in batches within the 4805-4820 range. First, look for 4840 as the target, and further look toward around 4900.#黄金 #现货黄金