4.16 Gold Morning Review



Yesterday, gold prices surged higher then pulled back for correction, ending with a slight rebound, which is a healthy correction in an upward trend and not a trend reversal. Short-term sentiment and related indicator fluctuations bring temporary pressure, while medium-term support remains solid, and central bank continued purchases also strengthen the bottom, limiting downside space.

Currently, gold prices are fluctuating within a key range, the core range being 4785-4830, with resistance above at 4830-4840.

Trading ideas:
Buy in batches at 4770-4780 on dips with good risk control, target 4835-4855;
If facing resistance at 4830-4840, consider light short positions with strict risk management, target 4800-4785. $BTC $ETH $XAUT
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