April 16th Simple Gold Morning Review:

Yesterday, gold surged to 4871 and then retraced as expected, dropping to a low of 4786, a decline of nearly 80 points, allowing those who shorted at high levels to profit.

In the late trading session, it oscillated around 4800, with support at 4786 holding temporarily. The 4-hour indicator still shows a bearish trend, remaining weak in the short term, but the downward momentum has diminished, and the room for further decline is limited, making it unlikely to fall below 4700.

Today's advice is not to chase shorts; focus on buying in batches at low levels, with a primary bias toward long positions, supplemented by short positions at higher levels. Trade with light positions, and set proper take-profit and stop-loss levels.

Reference strategy:
Pull back to around 4715-4735 to buy, targeting 4830-4850;
Rebound to around 4850-4865 to short, targeting 4770-4750.