April 24 Morning Gold Market Analysis

Geopolitically, tensions in the Strait of Hormuz continue to escalate, coupled with ongoing fluctuations in regional ceasefire negotiations. Yesterday, gold retreated to around 4660 support before quickly rebounding to recover its losses. Currently, the key low-level support remains effectively intact, and the overall market maintains a large-range oscillation and consolidation pattern, with no signs of a one-sided breakout in the short term.

Based on the four-hour chart pattern, the price has been fluctuating between 4650 and 4750 for a long time. The chart frequently shows long lower shadow candlesticks, which seem to indicate strong support at low levels, but in reality, the overall candlestick structure is a weak, continuous bearish pattern, typical of a shakeout and trap setup.

Short-term trading should focus on the oscillation range, with the overall trend favoring weakness. The main intraday trading strategy is to sell on rebounds.

Intraday Trading Reference

When the price rebounds to the 4730-4740 resistance zone, gradually add short positions;
Target the 4680 level in the short term, with a break below indicating a further decline toward the 4650 area bottom;
Trade with small positions, set proper stop-losses, and rationally control risk. #黄金