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April 15th Mu Yun Morning Review
Yesterday, gold fluctuated and moved higher, closing with a large bullish candlestick on the daily chart. This morning, it surged to around 4850, and the trend remains relatively strong. However, technical indicators are already at high levels, and upward momentum has weakened. Do not chase the highs, and be cautious of the risks of a pullback or false breakout.
The moving averages on the market are in a bullish alignment, MACD has a golden cross with increasing volume, and RSI is rising, indicating that the short-term bulls are in control. 4850 is a previous high resistance level, which may trigger profit-taking, so attention should be paid to the validity of a breakout.
The 4-hour gold price is moving along an upward channel, with Bollinger Bands opening upward. Strong support is at 4800 and 4780 below, with resistance at 4850 and 4880 above.
Trading suggestions: primarily buy on dips
Buy in stages on pullbacks around 4800-4820, targeting 4850-4880-4900-4950-5000. #黄金