Yichen: Don't chase anymore! Gold top compression molding, the fall below 4769 is the starting point of a sharp decline

On the four-hour chart, gold prices encountered resistance and fell back after touching the upper band of the Bollinger Bands, indicating a departure from the strong upward zone. The KDJ indicator is in the overbought zone at a high level, turning downward in the short term, and the technical correction signals are very clear, with the high-level pullback and adjustment needs continuing to be released.

Market risk aversion sentiment is being gradually digested on the news front, with rate cut expectations gradually priced in, and bullish positive support is weakening. Funds are taking profits at high levels, and the bullish upward momentum is insufficient. Domestic gold prices are moving independently, with the gap between domestic and international prices continuing to widen, further amplifying the upward pressure on international gold prices.

Suggestions:
Pull back in batches around 4855-4875, aggressive traders can buy around 4835, with targets at 4780, 4730, and if broken, continue to look down to 4680.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk based on this. $XAU