Gold Analysis and Trading Strategy | October 23-24

✅ 4-Hour Chart: Gold is currently in a consolidation and recovery phase after a sharp decline. If the price can stabilize above 4100 and break through 4173, it will further confirm the continuation of the short-term rebound. However, if it remains pressured below 4170, the rebound may end at any time.
The price is trading above MA5 and MA10 but below MA20, showing short-term stabilization signs, while the overall structure remains in a medium-term correction phase.

The moving average system shows MA5 turning upward, MA10 flattening, and MA20 and MA50 still trending downward, indicating a short-term rebound but a weak mid-term trend.
If gold breaks above MA20 (around 4173), it may continue to recover higher; however, if it falls below 4100, there is still a risk of testing 4050 or even 4000 again.

✅ 1-Hour Chart: After rebounding from 4004, gold has been moving upward in a choppy pattern, currently trading between the Bollinger middle and upper bands, showing a mild short-term bullish momentum.

The moving averages MA5, MA10, and MA20 have formed a golden cross, but they are still at a low level, indicating that the short-term rebound continues but remains limited in strength.
If the price breaks above 4156 (Bollinger upper band), it may open further upside potential; however, a break below MA20 (around 4110) would signal the end of the rebound.

🔴 Resistance Levels: 4156 / 4173 / 4244
🟢 Support Levels: 4100 / 4080 / 4050

✅ Trading Strategy Reference:

🔰If gold rebounds to the 4160–4170 zone and faces resistance, consider taking light short positions, with a stop loss above 4178 and targets at 4130–4110.

🔰If gold pulls back to the 4100–4110 zone and stabilizes, consider short-term long positions, targeting 4145–4160.

✅ Summary:
Gold remains in a medium-term downtrend, and the current rebound is mainly a technical correction.
In the short term, focus on the 4120–4170 consolidation range.
As long as key support holds, avoid blindly shorting. Traders should stay flexible and adjust their strategies according to market rhythm.