Trend outlook
After rising to 4186, prices came under pressure and pulled back. Around midday, gold traded in a narrow range near 4170 as it consolidated. The broader outlook remains bullish. Although a short-term pullback is possible, the rebound structure remains intact. Continue to favor buying on pullbacks, and avoid blindly chasing rallies or selling into declines within the range.
Market review
Yesterday and this morning, gold prices rebounded after stabilizing at the low of 4147, briefly surging to around 4186.35. They then faced selling pressure from profit-taking, and bullish momentum weakened temporarily, with prices gradually pulling back to around 4170 for a technical correction. The current candlestick pattern shows that support below remains intact, indicating a healthy consolidation within the uptrend.
Market Analysis
The rebound from the previous lows is still underway. Although 4186 has formed short-term resistance, this is more likely a shakeout by major players. The current pullback is to absorb overhead supply from trapped positions, not a trend reversal. As long as the price does not decisively break below the key support at 4150, it will most likely make another attempt to break above the previous high. This consolidation is building momentum for the next push higher.
Trading Recommendations
Support: 4160–4164 (aggressive traders can look to open short-term long positions if the price stabilizes in this range); stronger support is at 4150.
Risk management: Exit and cut losses if the price falls below 4140.
Targets: The first target is 4177–4190. If the price breaks through, hold for the second target above 4200.
A note on mindset from Luo Yixin:
Markets often rise amid uncertainty. This pullback is simply shaking out the weak hands. Would you rather short at the bottom now out of fear, or wait until the price rallies to 4190 tonight and then kick yourself, asking if it’s too late to chase? In this market, only hunters who position themselves early and winners who hold on through the end make money. The ones to watch out for are the “smart” people who want to run after the slightest rise and cut their losses after the slightest dip. Stay steady—there’s still money to be made this afternoon.$XAU
