4.6 Evening Gold Trading Strategy: Bulls haven't broken yet, but be cautious about chasing highs; focus on shorting during rebounds

On the evening of April 6, gold prices are influenced by multiple factors: tense Middle East geopolitical situation, a weakening US dollar, and expectations of economic slowdown support the bullish outlook. The short-term bullish pattern remains intact. However, technical indicators show short-term pressure, with the 15-minute candlestick touching the upper band resistance level. The risk of chasing highs increases significantly; trading should be cautious and disciplined.
On the larger timeframe, expectations of Fed rate cuts and the continued logic of global central banks buying gold support the upward trend. However, it’s not advisable to blindly chase long positions in the short term. Key levels for the evening are clear: resistance at 4710 and 4730, with strong upward moves targeting 4740 and 4760; support levels are closely watched at 4689 and 4690, with key support below at 4650 and 4600.
The evening trading approach mainly focuses on shorting during rebounds: take light positions when touching the 4690-4710 range; if prices surge to 4730 or 4760, add to short positions with strict stop-losses. The initial target is 4650; if broken, look below 4600. If gold dips near 4680-4670, consider adding to short positions accordingly.
Risk reminder: Short-term bullish momentum has not fully dissipated, and geopolitical uncertainties remain. Always set stop-losses, avoid blindly chasing highs, and wait for price pressure before entering new positions. #Gate广场四月发帖挑战 $XAUUSD