Grace: Risk-Off Sentiment Boosts Gold Higher, Bulls Still See Rebound Room

The ceasefire pause proposal from the U.S. landed in early morning, directly supporting gold as risk-off sentiment is priced in ahead of schedule. The intraday chart closed with a solid yang line firmly above 4400, with strong bullish momentum, tentatively defined as a short-term corrective rebound.

Gold touched the 4100 level on Monday and rebounded stably, closed positive on Tuesday, and bulls continued pushing higher on Wednesday. The daily chart is poised to close positive again, with bulls gradually consolidating. The 4-hour level has broken through the previous consolidation range, with short-term moving average turning upward, currently in narrow-range consolidation and correction. Until a clear reversal signal emerges, bull counters remain treated as rebounds. Be alert to pullback risks.

Above, watch short-term resistance at 4635-4650, major resistance at 4780-4790, key focus on 4800-4810 as the bulls-bears dividing line; below, support at 4490-4500.

Trading Suggestions:
Gold pullback to 4490-4500 zone without breaking can go long, pullback to 4460 zone for position averaging long, stop loss at 4440, target 4630-4635 zone, continue holding on breakout.

Disclaimer:
The above analysis is Grace's personal analysis. Markets are ever-changing; this is for reference only and does not constitute any investment advice!
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