4H see W shape. Support is not broken and it is still bullish.

yesterday

Although gold has experienced a temporary pullback today, we remain bullish as long as the price remains above the upward trend line. While the hourly chart shows a downward trend, with moving averages diverging downward and technical indicators like the MACD forming a death cross, it appears that bears have regained control of the market in the short term.

But from the 4H perspective, if the short-term decline continues and it can effectively rebound after touching the trend line and move out of the W-shaped structure, then gold will be expected to hit the 4135-4145 pressure again, and then gradually hit the 4160, 4200 and other periodic resistance levels until the bulls return. As time goes by, the support points on the short-term trend line are constantly moving up. If it falls back to 4050-4035, try to go long on gold in batches with light positions, and the target is 4090-4130.

XAUUSD

yesterday

Trade active

The gold trend perfectly matched our expectations. In the afternoon, gold retreated again, providing trading opportunities and successfully rebounded to touch 4090TP. VIP members fully seized the opportunity, and the brothers in the group who kept up with the trading rhythm will surely also have good returns.

After the release of CPI data, gold was affected by the positive data, and the W pattern we expected was gradually forming. But it is worth noting that the current gold price has rebounded to around 4115 and is slightly stagnant. There may be a small pullback in the short term, and it will continue to rebound after testing the support again. In the short term, we can try to go long on gold with 4095-4085 as the short-term support, and the target can be 4110-4130.