Muyao: Multiple attempts to push higher faced resistance, beware of a deep decline following a "trap rally"!

Today, during the Asian session, gold fluctuated around 4513 and gradually moved higher, after spiking to the 4560 level in the afternoon, it maintained a narrow range of oscillation at a high level. The Bollinger Bands on the chart are generally opening upward, with gold prices continuously staying above the middle band, and the 4552 level forming a short-term key support. Currently, the bullish momentum has slowed down.
The market continues to digest the cautious dovish signals from the Federal Reserve, combined with the ongoing rise in global risk aversion sentiment, creating a double positive resonance that provides solid support for gold prices.
After the rally, gold did not experience a deep pullback, only facing slight resistance at the upper Bollinger Band, indicating a short-term technical correction is needed. The short-term strong resistance above is concentrated in the 4560-4565 range, with key support levels at the 4552 middle Bollinger Band and 4544 double-line support. As long as the price holds above the middle band support, it is highly likely to continue the upward trend tonight; if the support zone is effectively broken, a deep correction will begin.
A rebound to around 4570–4580 can be considered a bullish setup, with targets around 4540–4480.