Gold traced lower in early trading, touched support near 4433, and then launched a rebound before entering a consolidation range. From the trend characteristics, the lower-level buying interest is clearly catching the dip, with price failing to extend lower at low levels and instead recovering part of the losses. During the rebound, the bullish candlestick bodies gradually expanded, showing very clear signals of bullish effort. In the short term, it has broken free from the one-directional downtrend rhythm seen in early trading.
Observing the hourly Bollinger Bands, the channel is continuously narrowing. While the upper band and middle band still maintain a downward slope, the lower band has already turned upward, with supporting strength continuously increasing. After price broke below the middle band and tested the lower band, it subsequently rebounded off the lower band, and there was no obvious pullback during the rebound. This demonstrates the characteristic of "lower band support solidifying and bulls gradually exerting force." From a technical perspective, the Bollinger Bands are about to form a "lower band turning upward, middle band flattening" structure signaling strengthening.
Operationally, 4426 is the bull entry point, 4410 serves as the averaging point, 4400 acts as the risk stop-loss level, with short-term targets pointing toward the 4468-4490 range.
(Disclaimer: Technical analysis for reference only and does not constitute investment advice)
Gold traced lower in early trading, touched support near 4433, and then launched a rebound before entering a consolidation range. From the trend characteristics, the lower-level buying interest is clearly catching the dip, with price failing to extend lower at low levels and instead recovering part of the losses. During the rebound, the bullish candlestick bodies gradually expanded, showing very clear signals of bullish effort. In the short term, it has broken free from the one-directional downtrend rhythm seen in early trading.
Observing the hourly Bollinger Bands, the channel is continuously narrowing. While the upper band and middle band still maintain a downward slope, the lower band has already turned upward, with supporting strength continuously increasing. After price broke below the middle band and tested the lower band, it subsequently rebounded off the lower band, and there was no obvious pullback during the rebound. This demonstrates the characteristic of "lower band support solidifying and bulls gradually exerting force." From a technical perspective, the Bollinger Bands are about to form a "lower band turning upward, middle band flattening" structure signaling strengthening.
Operationally, 4426 is the bull entry point, 4410 serves as the averaging point, 4400 acts as the risk stop-loss level, with short-term targets pointing toward the 4468-4490 range.
(Disclaimer: Technical analysis for reference only and does not constitute investment advice)