Market Review:

Gold continued to consolidate yesterday. After opening at 5011 early in the session, prices pulled back to 4993.9 before rallying sharply. The daily high reached 5044 before a strong retreat, and by the end of the session, the daily low was at 4973 before another strong rebound. The daily close settled at 5003.4.

From the daily chart, a bullish candle was followed by a bearish candle, indicating that the reversal strength of the previous bullish candle was not very strong. Fortunately, yesterday's bearish candle did not break below the low of the previous bullish candle. Additionally, the Bollinger Bands' three tracks are moving sideways, and although the MACD fast and slow lines are trending downward below, they have not yet broken below the zero line, providing some short-term support.

The 4-hour timeframe is currently maintaining a weak sideways consolidation at lower levels, with the Bollinger middle band gradually moving downward. Resistance is mainly concentrated in the 5040–5050 range, while support below is focused on the 4970–4950 range. Although the indicator has returned to the midpoint, the overall price remains under pressure. The market is likely entering a narrow-range oscillation phase. Operationally, it is recommended to adopt a sideways pressure approach, prioritizing short positions on rallies.

Gold Trading Strategy: Short on rebounds around 5020–5025 with a small position, stop loss at 5035, target 4090: small position, strict stop loss

Disclaimer: The above content reflects personal opinions and viewpoints only and does not constitute trading advice.