4.15 Gold Morning Review

Yesterday, gold generally remained in a volatile and slightly strong trend, pulling back to 4738 in the early session and stabilizing, then surged in the afternoon to around 4796 with some resistance, and in the evening, the bulls regained strength, pushing higher to reach a high of 4850. The market relies on the middle band of the Bollinger Bands to gradually lift, with a clear bullish trend.

In the medium term, the core logic of this round of gold price increase has not changed. As the Federal Reserve decision approaches, market sentiment of betting continues to intensify. Today, it is highly likely to continue a slightly strong oscillation pattern. In terms of operation, it is still not recommended to blindly chase highs, mainly focusing on buying on dips. On the news front, hawkish statements from Fed officials temporarily suppress gold prices, but ongoing geopolitical tensions and frequent safe-haven capital inflows and outflows also amplify short-term volatility.

From the 1-hour chart, the gold price is currently operating near the upper band of the Bollinger Bands, with key resistance at 4900, and the middle band support at 4796. The Bollinger Bands are opening upward overall, and the short-term moving averages are also turning upward, indicating that the bulls still have upward momentum. However, resistance above remains obvious; if it cannot be effectively broken through, it is likely to maintain a range-bound consolidation.

Around 4800-4815, consider buying, with targets first at 4850-4880. If a smooth breakthrough occurs, it can further target above 4900.
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