Enhancements: Safe-haven demand drives gold prices higher, bulls still see room for rebound

In the early morning, the news of the US proposing a one-month ceasefire landed, directly boosting gold, with safe-haven sentiment digested ahead of schedule. The market closed with a solid yang line standing firmly above 4400, with strong bullish momentum, tentatively defined as a short-term rebound correction.

Gold touched 4100 and found support with a rebound on Monday, closed with gains on Tuesday, bulls continued pushing higher on Wednesday, and the daily line is expected to close with gains again, with bulls gradually stabilising. The 4-hour level broke through the previous consolidation range, short-cycle moving averages turned upward, currently consolidating in narrow range; before any clear reversal signal appears, bullish counterattacks are still treated as rebounds. Beware of pullback risks.

Watch short-term resistance at 4635-4650 above, significant resistance at 4780-4790, focus on the 4800-4810 bulls-bears dividing line; support below at 4490-4500.

Trading suggestions:
Gold pullback to 4490-4500 line without breaking can go long, pullback to 4460 line to add positions going long, stop loss at 4440 line, target 4630-4635 line, continue holding on breakout.

Reminder:
The above analysis is Enhancements' personal analysis, the market is ever-changing, for reference only, not any investment advice!
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