4.22 Gold Evening Market Analysis

After a sharp decline in the midday session, the market began an oversold rebound recovery/repairing move. Currently quoted at 4753, it has successfully broken through the 4731 short-term key resistance, with the overall intraday rebound reaching 0.74%.
In the short term, the market has steadily held the hourly Bollinger Bands’ middle band at 4739, with the bulls holding a slight advantage; however, the 15-minute short-term cycle faces clear pressure around 4771, and upward momentum is gradually slowing.
As for the market, the U.S. Dollar Index has slightly recovered and strengthened, continuing to limit the strength of gold’s rebound. At this stage, this rebound is only a technical rebound correction, and the overall medium-term downward trend remains unchanged.
For evening trading, the approach remains mainly to buy the dips and sell the highs within the range.
1. Pull back to the 4730-4740 range and build long positions in batches. Place a defensive stop-loss at 4715. For the short-term upside, look for the target range of 4770-4772.
2. If the rebound touches above 4770, then lightly open short positions following the trend. Set the stop loss at 4786.
Market volatility is relatively fast, so when trading you must strictly use stop-losses, never go heavily against the trend, and manage position risk properly.