Yichen: The Taiwan Strait situation has escalated again! Gold holds the key support level, and the upward potential is fully unlocked

From a technical perspective, on the four-hour chart, gold prices remain above the middle band of the Bollinger Bands, rebounding after a pullback and stabilizing, then rising again. The Bollinger channel is tightening overall, with the upper Bollinger band at 4792 acting as short-term resistance, and the 4746 level forming a core support zone. The three lines of the KDJ indicator are diverging upward, indicating continued short-term bullish momentum. Prices are consistently maintaining a high-level consolidation structure, significantly reducing the short-term downward space.

On the news front, the Middle East geopolitical situation continues to ferment, with risks in shipping through the Strait of Hormuz increasing. Geopolitical conflicts and uncertainties are continuously boosting market risk aversion sentiment, leading funds to flow into precious metals markets, providing strong support for gold prices. Coupled with expectations of a Fed rate cut cycle, the US dollar trend is relatively weak, further benefiting gold’s upward movement.

Suggestions:
Buy in batches around 4720-4740 on pullbacks, aggressive traders can buy near 4755, targeting 4800, 4850, and continue upward if broken, aiming for 4900.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk based on this. $XAU