Gold has recently become quite interesting. From the 1-hour chart, the price confirmed a W-bottom reversal around 4350, followed by increased volume, and sharply rebounded to the key resistance at 4400. This is not a simple bounce—it's a genuine breakout, and a standard BOB structure has formed, indicating that the hourly bullish trend has officially been established.

Currently, the price is consolidating around 4423, forming an ascending wedge pattern. This type of consolidation is common in bullish markets and is part of a buildup phase. In other words, the price is accumulating strength and preparing to move higher.

Looking at smaller timeframes, this situation is quite interesting—short-term momentum is strong, but an adjustment has already begun. However, based on the double bottom pattern on the hourly chart, the medium-term bullish tone remains unchanged. The short cycle is accumulating energy, and the medium cycle is bullish, with both timeframes resonating. This provides more operational space.

What’s next? If the price holds above 4400 to 4405, it is likely to break through the wedge resistance and push towards the resistance near 4460, with a chance to test 4500.

But if it falls below the key support at 4404, a retest around 4380 is necessary to confirm the support again. At this point, caution is needed for a short-term correction, as risks are still present.

In terms of trading, you can consider going long between 4405 and 4400, with the first target at 4460 and the second at 4500. If there are volume breakout signals on the right side at 4425, the opportunity to chase longs remains, as support has not changed. Remember, 4380 is a key strong support below and also the boundary for trend reversal. Do not let it be easily broken.