4.10 Gold Morning Review

Master the key signals thoroughly. Today’s gold outlook is clear, and the direction is definite!

Yesterday, during the US evening session, gold rose sharply to around 4800, driven by sentiment, but the resistance overhead was strong. It failed to hold above the high level and then promptly pulled back. This shows that the current bullish push lacks sufficient momentum, and the market is still in the corrective phase after the spike.

From the current chart, gold’s short-term cycle has already begun to weaken, the rebound strength keeps fading, the center of gravity is continuously shifting lower, moving averages are clearly exerting pressure, and technical indicators are simultaneously leaning bearish. 4700 is the key pivot point; once it breaks, downside room will open up further. The main intraday focus remains to sell on rebounds.

On the news front, the market’s focus is on the US-Iran situation and the CPI data that is about to be released. The short-term ceasefire eases risk-off sentiment, but geopolitical risks remain. Ahead of the CPI release, capital is cautious. If the data comes in strong, it will further suppress gold prices; if the data is weak, there may be a modest rebound, but it will not change the overall choppy-to-weak consolidation pattern.

Key resistance above: 4780–4800
Trading strategy
Sell short on rebounds near 4780–4800; targets are 4750–4700. If it breaks through, continue to look for below 4680.
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