4.27 Simplified Chinese midday gold market latest analysis

Midday, let's talk about the current gold market trend, today spot gold has shown a very clear V-shaped reversal, the trend is particularly exciting!

In the early trading session, gold was still continuing its weak decline, falling to a position of 4672, then the bulls started to exert force, rebounding strongly and rising, oscillating higher all the way, reaching a high of 4730, an increase of nearly 60 points in a short period. However, after reaching the high, many bulls began to take profits and exit, causing the gold price to fall quickly again, and now both bulls and bears are fighting fiercely.

Let's talk about the news affecting the market now. The market has been debating when the Federal Reserve will cut interest rates this year. Expectations for rate cuts fluctuate back and forth, plus the risk aversion sentiment caused by geopolitical tensions has not dissipated, which has supported the gold price from falling further. But in the short term, US bond yields and the dollar index have slightly risen, and many people have taken profits at high levels, which suppresses gold from continuing to rise, causing the price to spike up and then fall immediately.

From the short-term technical trend, on the 10-minute chart, after the gold price hit bottom, it continued to close with bullish candles and rose. The short-term bullish momentum is strong, but it cannot rise past 4730, then it starts to close with bearish candles and decline, and the short-term moving averages are also showing signs of turning downward. The key resistance above is the intraday high of 4730, and the main support below is the 4700 integer level.

Finally, for trading reference: when the gold price rebounds to the 4720-4730 range, you can do partial short positions, with targets first at 4680, then at 4650 and 4605. #白宫记协晚宴发生枪击事件 $XAUT