Power buildup complete! Gold price welcomes a reversal and main upward wave

In the four-hour chart, gold price remains close to the lower Bollinger Band support, oscillating; the previous short positions have been fully released, the KDJ indicator has entered a deep oversold zone, and the technical rebound demand is strong, making the downward space extremely limited.

From the news perspective, Middle Eastern oil production cuts combined with ongoing geopolitical risks continue to escalate, and the safe-haven attribute continuously provides strong bottom support for gold prices, effectively holding the key low level. Meanwhile, market easing expectations are gradually fermenting, the US dollar remains under pressure and weakens from high levels, further benefiting gold to rebound and rise.

Suggestions:
Pull back to around 4650-4670 for phased long positions, target 4730, 4780

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