4/7 Morning Outlook

Yesterday, gold probed the lows and then rebounded. During the Asia-Europe session, it briefly dipped to 4599 dollars. After the U.S. session, it reversed sharply in a V-shape, strongly reclaiming the 4650 level. The daily chart printed a long lower shadow bullish candle, with bearish momentum clearly weakening and bullish stabilization signals becoming clear.

From a technical perspective, 4600 support is strong—multiple pullbacks failed to break it, and buy-side support is evident in propping up the price. The daily chart shows a bottoming and rebound, with the MACD forming a golden cross, as bulls gradually take control of the market. On the fundamentals side, the negative impact from non-farm payrolls has been digested; meanwhile, the Middle East situation and the central bank’s ongoing gold purchases continue to support the gold price. In the short term, expect a bullish-leaning sideways range; pullbacks are opportunities to go long at relatively low levels.

Trading Suggestions
Around 4645—4650, be cautious; keep 4610 as your defense line; targets are 4700—4720

On the trading road, stay steady, stick to your rules, don’t let volatility shake your mind, and don’t let fear trip you up. Every prudent layout brings you closer to profits; every strict execution is being responsible to yourself. Stay patient, move toward the sunshine—eventually, you’ll reap your own brilliance!
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