Enze: Hammer momentum exhausted, gold explores bottom and rebounds at 5000

After a sharp dive in international gold prices in the early period, it stopped falling and rebounded at the 4500 low last night. Hammer momentum has been completely exhausted, and the short term has entered range-bound oscillation, with the one-sided decline coming to an end. The Federal Reserve's hawkish rate rhetoric is gradually being digested, with the US dollar and US Treasury yields retreating, presenting a repair opportunity for gold prices.

News-wise, the Federal Reserve's hawkish policy headwinds have been fully priced in, with diminishing downward pressure; Middle East geopolitical risks and global central bank gold purchases continue to support the gold price floor, with limited downside space. The market has entered a dynamic balance repair phase.

Technical analysis shows that gold's bottom exploration and rebound has formed a stop-fall signal, with 4-hour indicators recovering and moving away from the extremely weak trend. Today's core range is 4600—4750, with 4600 as strong support and 4750 as key resistance.

Intraday operations are mainly range-bound oscillations and bottom exploration rebounds, with single-sided movements unlikely without major news. Operational suggestion: focus on lows, light positions on 4600—4630 retests, reduce positions on 4720—4750 rebounds, with strict stop-loss and take-profit levels.

The current market is in a correction phase from the sharp decline, with a clear oscillation pattern. Avoid chasing rallies and panic selling; patiently wait for range trading opportunities.

Reminder: The above analysis is Enze's personal analysis for reference only and does not constitute any investment advice!
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