4.17 Gold Reversal Imminent, Adjustment Space Will Further Open

Daily chart, gold prices remain above the 5-day, 10-day, and 20-day moving averages, maintaining a good medium- to long-term upward structure. However, prices have consecutively pulled back after three days of rally, all showing long upper shadows, indicating that selling pressure in the 4800–4840 zone has significantly increased, and bullish momentum is continuously weakening.

4-hour chart, the price broke below the short-term upward channel lower boundary, with MA5 crossing below MA10 to form a death cross, combined with weak MACD, and price facing resistance at the 20-period moving average. The short-term trend remains weak. However, KDJ is below 50 and consolidating at low levels, indicating limited room for a pullback; RSI has fallen below the 50 midpoint, suggesting the short-term remains volatile and corrective.

1-hour chart, MA5, MA10, and MA20 are in a bearish alignment, with prices continuously suppressed by moving averages, maintaining a weak oscillation pattern, consolidating narrowly between 4770–4800, with weak rebound strength. KDJ has formed a golden cross at low levels and is hovering near the midline, indicating a small rebound correction may be needed in the short term; RSI is in the 45–50 weak zone, with bears still dominant. Focus on the support zone at 4750–4760; if broken decisively, further correction space will open. Resistance levels have gradually shifted down to around 4820–4830.

Overall, in the short term, bullish momentum is insufficient, and upward pressure is evident. Bearish correction momentum is dominant, so trading should mainly focus on shorting on rebounds.

Gold trading strategy: On rebounds to 4810–4825, gradually enter short positions, with a stop-loss at 4830, targeting 4760.

If the price stabilizes after breaking below 4760–4750, continue to short with a stop-loss at 4780, targeting 4720–4700.

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