Based on tonight's gold volatility, the bearish trend seems to have a short-term advantage, but at this stage, whether from risk aversion sentiment or technical trend analysis, gold bulls still haven't been completely defeated. Moreover, from the recent short-term fluctuations over the past few days, even if there is a significant pullback in the evening, gold will rebound and recover the previous decline after midnight and even after the opening tomorrow morning. Therefore, in the short term, our trading strategy is to continue to look for a bottoming rebound to go long, with this rebound target of only 30-50 USD. Whether we can short again in the short term depends on the resistance at the rebound high during tomorrow's daytime!

From a technical perspective, yesterday's daily candle closed as a small bullish candle, with the Bollinger Bands narrowing, indicating a potential new direction. The KDJ indicator shows a death cross with increasing volume, and the MACD has formed a death cross. Currently, the overall trend remains upward, with a mid-term upward phase. On the 4-hour chart, the Bollinger Bands are narrowing, the KDJ indicator shows a death cross, and the MACD lines are intertwined. On the hourly chart, the Bollinger Bands are opening, the KDJ shows a death cross with increasing volume, and the MACD fast line is below the slow line with green energy bars gradually diverging. In the short term, prices are correcting as expected. Focus on the pullback; support levels are at 5015/4996, and resistance levels are at 5120/5130.

Trading suggestions: Light long positions at 5040-5050, stop loss at 5020, target at 5180/5200.

Disclaimer: The above content is for personal ideas and opinions only and does not constitute trading advice.