Gold Outlook for April 17

The situation in the Middle East has shown signs of temporary easing, and the cooling of risk-averse sentiment has weighed on gold prices; however, the potential geopolitical risks have not been eliminated, and combined with ongoing global central bank gold purchases, support below remains relatively strong. The US dollar has strengthened slightly, but the pace of its advance is also limited.
Gold prices continue to trade in a range within the Bollinger Bands; in the short term, moving averages are flat, and both bulls and bears are balanced, with an overall pattern of consolidation at high levels and no clear directional trend yet. The resistance zone is located at 4810-4835, and the important support area below is 4770-4750.
Personal suggestion: buy in batches on dips in the 4755-4775 range; if there is a deep pullback to the 4725-4745 area, you may consider adding positions.
If the market moves directly upward, you can take a small position around 4785.
The upside targets are sequentially 4800 and 4830.
Set short orders in the 4810-4835 resistance zone on the rebound.
The downside targets are sequentially around 4780 and 4750.
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