April 3rd Gold (XAUT) Strategy and Trading Recommendations



1. Strategy Analysis

Yesterday, gold dropped sharply by 2.05% with a close at 4637.9. The short-term bearish trend is clear, and the correction momentum continues to release. A strong resistance zone has formed at 4700-4730, repeatedly capping the rebound. Bulls are struggling to mount a strong comeback, and market sentiment is leaning bearish. The first support levels are at 4600-4580; a break below could lead to further declines toward 4550-4520. Overall, the outlook remains firmly bearish, favoring high short positions with the trend, and avoiding blind bottom-fishing.

2. Trading Recommendations

Sell in stages on rebounds around 4700-4720, with targets at 4600-4580. If broken, watch for a move toward 4550.
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