4.16 Bole Evening Gold Trading Ideas

In the morning, gold surged higher then oscillated and pulled back, touching a high of 4838 before facing resistance and declining, currently pulling back to around 4805, temporarily supported near the lower band of the Bollinger Bands, maintaining a short-term oscillation and consolidation pattern.

Middle Eastern geopolitical risks continue to provide a bottom support for gold prices, but with the rebound of the US dollar and US Treasury yields, coupled with market fluctuations in expectations for Federal Reserve monetary policy, the upward space for gold is clearly limited. The bulls and bears are increasingly competing, and gold prices generally remain in a high-range zone.

From a technical perspective, the Bollinger Bands are flattening, and the price has retested the lower band at 4803; key support below is concentrated around 4797, while the middle band at 4815 and the upper band at 4830 form a double resistance, with the market mainly oscillating within a range, awaiting a direction.

Trading reference: During the pullback to the 4810—4795 range, consider gradually building long positions, with targets sequentially at 4835—4860.