# Enzen: Gold Price Trading in Narrow Range, Key Support at 4970, Watch 5060 Resistance Above

Gold fell into range-bound volatility in early trading yesterday, with the intraday low touching 4967, and after retesting the 4970 support level in the afternoon, it rebounded with price currently recovering above the 5000 level. The 4970-4975 long strategy deployed in early trading was based on this key support level's effective rebound.

Overall, gold prices have been in a tug-of-war between bulls and bears recently, with range breakouts still unclear. Although there were rebound attempts after the U.S. session opened yesterday, the upside lacked strength and ultimately faced selling pressure, with bullish momentum showing obvious weakness. Against this backdrop, trading should maintain a range-bound oscillation approach, with steady pullback long entries as the core strategy.

Current chart focus: Resistance pressure is concentrated around 5060, with short-term strong resistance to watch at 5100-5120; Support below remains at the 4975-4965 zone. Specific trade entry points will be adjusted in real-time based on intraday price action, so please stay tuned.

**Trading Strategy:**

**Long opportunity:** Enter on pullbacks to the 4965-4975 zone, stop-loss at 4955, targets 5060-5070, hold on breakout.

**Short opportunity:** Short on rebounds to 5065-5080 zone if it fails to break, add on rallies near 5100-5110 if reached, stop-loss at 5125, targets 4985-5000.

**Disclaimer:**
The above analysis is Enzen's personal share. Markets are ever-changing and volatile. This is for reference only and does not constitute any investment advice!
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