Gold Asian and European sessions maintained an overall range-bound oscillation pattern. The early session saw repeated tug-of-war between 5160-5190, with bulls and bears competing. Afternoon prices surged to the intraday high of 5191 but failed to hold the key resistance level, pulling back under pressure. The US session accelerated lower, touching a low of 5109, followed by a modest rebound for recovery.

From a technical perspective, yesterday's daily chart closed with a bearish doji candle, Bollinger Bands showing a narrowing pattern, KDJ indicator forming a death cross with increasing volume, MACD fast line running below the slow line. However, the green bearish energy column has begun to gradually converge. Overall, the major trend remains bullish, with the medium-term maintaining a phase-of-consolidation uptrend.

On the 4-hour chart, Bollinger Bands show signs of opening, KDJ indicator death cross with volume expansion, MACD fast line positioned below the slow line, and the green bearish energy column gradually diverging. Short-term bearish momentum has strengthened somewhat.

On the hourly chart, Bollinger Bands running in an open pattern, KDJ indicator death cross with volume expansion, MACD fast line below the slow line, green energy column showing a state of divergence and convergence, short-term price action remains volatile and choppy. Key focus on the subsequent pullback magnitude. Support levels to watch: 5100-5080, Resistance levels to watch: 5160-5190.

Gold Trading Strategy: Batch long entries at 5120-5130, stop loss at 5100, targets at 5180-5200

Disclaimer: The above content is merely personal thoughts and viewpoint sharing, and does not constitute trading advice.