On the evening of the 15th
From the current 1-hour candlestick chart and market data, the gold price has experienced a short-term correction and then stabilized again, successfully standing above the short-term moving averages, forming a strong rebound trend, with bulls dominating. However, the pressure zone formed by the previous high points above still needs to be vigilant, and the short-term battle between bulls and bears revolves around the previous highs.
After the candlestick correction stabilized, there was a continuous upward attack with consecutive bullish candlesticks. After the gold price stabilized at a low of 4295.72, it consecutively formed bullish candlesticks to fight back upwards, gradually recovering the lost ground from the correction and approaching the previous high of 4353.43. The candlestick pattern has formed a strong structure of "correction-stabilization-rebound," with only slight fluctuations near the previous high, indicating that the bulls' attack rhythm has not been disrupted.
Trading Suggestions
If: If the price stabilizes in the 4340 range, pay attention to buying opportunities in the 4330-4335 range on a pullback, with the upper target looking at the previous high of 4353.43; if it breaks through, then further targets the 4360-4370 range of pressure.
If: If it effectively breaks below 4330 (10-day moving average), it may short-term correct to the 4300-4310 range; one can take a light short position with a stop loss set above 4350.