Mu Yao: The short-term momentum continues to weaken, and low-position long positions are taking the opportunity to rebound.



Considering the current market structure, gold's 1-hour cycle has completed a round of decline, and it is currently in the late-stage low-level consolidation phase of the downward trend. The Bollinger Bands remain in a downward opening bearish pattern, but the band width continues to narrow, reflecting that market bearish momentum has significantly weakened, and the downward space is being continuously compressed. The battle between bulls and bears is becoming more balanced, and the short-term trend is about to face a directional choice.

Trading suggestion: Buy on dips at 4670-4680, with a stop loss below 4660, and target 4740.

Note:
The above analysis is Mu Yao's personal analysis. Markets are ever-changing, and the content is for reference only and does not constitute any investment advice!
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