Gold bottoms out and rebounds, long trade wins

Gold closed up $16.49, or 0.71%, on Thursday to close at $2,332.30.
On April 26, spot gold accelerated its short-term rise, with the price just breaking through $2,345.

Gold short-term technical outlook analysis
U.S. first-quarter GDP data was lower than expected, causing concern. Gold maintained modest gains.
Generally speaking, gold tends to benefit in a risk-averse environment, which tilts the risk to the upside. In the short term, gold prices offer a neutral to bullish stance based on the 4-hour chart.
Gold prices currently face resistance at the April 25 high of $2,344. If this level is exceeded, gold prices will target the $2,352 level, followed by the $2,400 mark.

The latest important support and resistance levels for gold prices:
Support level: $2310; $2292;
Resistance: $2352; $2368;

Gold prices are expected to fluctuate and rise today.
Trading strategy: Go short after gold rebounds and go long after it falls.
It is recommended to go short near $2345-2350
Or going long near $2320-2310 is also a good choice.

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Trade active:

The price of gold broke through 2350 US dollars, but did not continue to rise above 2352 US dollars. We can wait and see whether the market can continue to rise and break through 2352 US dollars. Then I can wait for the pullback and then go long gold.

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Gold rose to a maximum of $2,352, then fell back, showing a relatively strong trend. We can go long below $2,340.

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Wait a moment, the price of gold falls back below 2340 before trading long.

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Gold prices are now correcting as expected,

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The U.S. core PCE price index annual rate data in March was negative for gold, which briefly affected the market trend and is now falling rapidly towards $2,340.

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Gold is now down to $2337, we can go long gold at $2335

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Go long at the $2337 level. The impact of the final value of the University of Michigan Consumer Confidence Index in April in the United States is that bulls continue to make profits.

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The price of gold is currently fluctuating at $2337 and may fall further. You can increase your position below 2335 and go long.

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Gold is currently supported below, and the U.S. dollar is now falling, which will provide some impetus for gold's rise.

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We can take profit when it rises above 2340 and prepare for short trading

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Now that the price of gold has risen above $2,340 again, you can short gold in this range

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Gold prices fall, short sellers continue to make profits