$XAU This week's market core highlights focus on the sudden changes in the Middle East situation, with Iran announcing a complete opening of the Strait of Hormuz during the ceasefire period, and this news has been confirmed. According to conventional logic, risk aversion sentiment should cool down, and gold and oil prices should weaken simultaneously; however, on Friday, gold surged to around 4891.6, with strong support below, and bulls maintained their position.
The upper resistance at 4900 is under pressure, while the key support below is seen at 4785-4790 and 4825-4830. The short-term MACD bullish momentum continues, and after a correction, another surge is expected.
The trading strategy is mainly to go long on pullbacks:
Lightly buy near 4825, add to long positions at 4785-4790, aiming for 4890-4900, and hold if it breaks.
The upper resistance at 4900 is under pressure, while the key support below is seen at 4785-4790 and 4825-4830. The short-term MACD bullish momentum continues, and after a correction, another surge is expected.
The trading strategy is mainly to go long on pullbacks:
Lightly buy near 4825, add to long positions at 4785-4790, aiming for 4890-4900, and hold if it breaks.
