Gold V-shaped Reversal! Midnight Bulls Make a Strong Comeback, Clear Direction

Gold Digger Old Cat
April 10, 2026

The essence of trading is a game of probabilities; what we need to do is to enter positions at high-probability points, use discipline to protect profits, be patient and wait for opportunities, avoid greed and fear, and only then can we achieve steady and long-term success.

Today’s spot gold opened at 4728.67, rebounded after testing the bottom during the day, with the lowest dip to 4699.01 supported by buying, showing a strong rebound, reaching a high of 4798.06. As of now, the price is at 4787.59, up 1.44% for the day, overall showing a strong V-shaped reversal pattern.

From the 1-hour technical perspective, the Bollinger Bands are shifting from diverging downward to converging upward, with the upper band at 4775.99, the middle band at 4732.02, and the lower band at 4688.04, all arranged in a bullish pattern. The price is above the middle band, with short-term bullish momentum fully dominant, indicating a clear rebound trend. The WR indicator currently reads -10.92, rising from the oversold zone into a strong zone, further confirming bullish strength. Short-term rebound momentum has not yet exhausted; in trading, focus on buying low, with only very short-term shorts as auxiliary, and avoid reversing into heavy short positions.

Today’s trading reference ranges: support below at 4760-4765, 4730-4735. If retesting does not break below, consider gradually adding long positions, targeting 4795-4800, and after breaking through, look for 4807-4810. Resistance above at 4795-4800; if price encounters resistance when rising, consider light short positions, targeting 4760-4765, with strict control of position size and stop-loss.

Disclaimer: The above analysis reflects personal opinions only and does not constitute any investment advice. The market carries risks; investment should be cautious. Investors should make independent decisions based on their own circumstances and bear their own trading risks.