4.10 Gold V-shaped rebound correction, watch for support and resistance breakouts

From the 4-hour chart, the MA5, MA10, and MA20 lines are converging and leveling, with bullish and bearish forces in stalemate, showing no clear unilateral direction. KDJ forms a golden cross at mid-low levels, indicating some momentum for the rebound but limited strength; RSI is in the neutral to slightly strong zone between 50–60, with bulls and bears relatively balanced, neither entering overbought (<70) nor oversold (>30), showing no extreme market signals, overall presenting a sideways to slightly bullish structure.

On the 1-hour chart, the MA5, MA10, and MA20 lines are diverging upward, typical of a rebound after an uptrend confirming support at the moving averages. As long as the price does not effectively break below MA5, the short-term upward structure will not reverse. If KDJ stabilizes in the 50–60 range and forms another golden cross, an upward restart is possible; if it falls below the 50 level, a short-term correction signal is confirmed. Currently, RSI is also declining, confirming the price retracement, which is a healthy adjustment during an uptrend.

Today, focus on the support zone at 4740–4730, and watch for resistance at 4780–4800. Overall, after the V-shaped rebound, gold prices are entering a high-level consolidation phase, entering a profit-taking stage.

Gold trading strategy: Short at 4790–4800 zone with a stop loss at 4815, target 4760

Light long positions on retracement to 4740–4745 zone, stop loss at 4735, target 4780

Disclaimer: The above content is for personal ideas and opinions sharing only and does not constitute trading advice.