4.9 Morning Review: Gold Must Break 4700, Waiting for a Pullback to Enter Short

From the 4-hour chart, the MA5 and MA10 are forming a death cross downward, indicating that the short-term bearish trend dominates. The rebound will continue to face strong resistance at MA5/MA10. The MACD has formed a death cross above the zero line, with the green bars expanding and the two lines diverging downward, indicating sufficient momentum for a pullback. The pullback pressure has not yet been fully released. The KDJ indicator's J line has not entered the oversold zone (<20), suggesting that downward momentum still has room to further release, and no clear reversal signal has appeared.

From the 1-hour chart, the MA5/MA10/MA20 lines are arranged in a complete bearish alignment, with prices continuously under pressure below all moving averages. The short-term bearish pattern is clear, and rebounds will face multiple layers of resistance. The Bollinger Bands are opening downward, with prices moving weakly along the lower band. Focus on the 4700 level: if it is effectively broken downward, gold will enter a new round of decline, targeting the 4680-4650 range; resistance above is at 4750-4760.

Overall, the current market only shows a slight correction after overselling, with no trend reversal signals. The overall intraday strategy is to buy on dips and sell at resistance.

Gold Trading Strategy: Short when rebounding to the 4740-4750 zone and facing resistance, with a stop-loss above 4760. Target the 4700 level.

If the price effectively breaks below 4700 support, go short accordingly, with a stop-loss above 4710, and target the 4680-4670 range.

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