Enze: Gold bullish momentum in April! The lower shadow sets the tone, with a target directly at 4830

March gold closes, and the monthly chart pattern has taken shape. At the beginning of the month, it opened high at 5316, surged to 5421, then fluctuated and pulled back, touching a low of 4095, followed by a strong rebound, ultimately closing at 4667. The monthly line shows a very long lower shadow, forming a large bearish candle. This pattern establishes a bullish tone for April.

The hourly chart indicates that gold has broken through the 4600-4620 resistance zone, with an clear upward trend. The next target is the 4700-4720 resistance area.

In terms of trading, a pullback near 4570 is a good buying opportunity, with 4550-4570 as an ideal entry point. This week’s upward target is 4720-4830.

Trading suggestions:
Maintain a cautious approach, buy around 4620-4600, and add positions near 4550-4570. Stop-loss should be set below 4530, with an upward target near 4720-4830.

Reminder:
The above analysis is based on Enze’s personal view. Markets are ever-changing, and this content is for reference only. It does not constitute any investment advice!
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