Gold Evening Bullish Outlook: Stepped Approach Targeting Above 4800

The market is never short of opportunities; what’s lacking is the patience and resolve to wait. Maintaining the right rhythm is key to steady and long-term success.

Today, spot gold continued its strong upward trend, with prices steadily gaining during the European session, reaching a high of 4747. By the close of the European session, the price was quoted at 4728, up over 1% intraday, with bullish momentum still strong. On the 1-hour chart, the Bollinger Bands remain expanding upward, with prices steadily supported by the MA5 and MA10 moving averages. The moving average system is in a perfect bullish alignment, with the midline support continuously rising, providing strong support for the price. Although the MACD histogram has slightly decreased in size, the DIFF and DEA lines are still above the zero axis, indicating that the bullish trend remains intact, with only a short-term technical correction needed.

Tonight’s trading strategy is primarily to buy on dips, with a phased build-up of long positions around the core support levels of 4700-4680. This zone coincides with the confluence of short-term moving averages and the middle band of the Bollinger Bands, making it an ideal entry point on pullbacks that stabilize. Place stops below 4670. Take profits in stages at key resistance levels: first at 4750, then above 4780, and further targeting the mid-range zone of 4800-4820. Overall, avoid chasing high and be patient for pullback opportunities. Follow the trend and act accordingly, avoiding counter-trend positions.
The above analysis reflects personal views only and does not constitute any investment advice. The market carries risks; please trade cautiously.