Gold: A counterattack from the bullsGold vs US DollarICMARKETS:XAUUSDWall_street_junGold rebounded yesterday after testing lower levels, initially falling before rising. The weekly chart shows a pullback to near 3998, finding some support. The RSI indicator remains near the midline, and the price is trading around the middle Bollinger Band. On the shorter-term 4-hour chart, moving averages are converging, the RSI is near the midline, and the price is trading between the middle and lower Bollinger Bands. Technically, gold is maintaining a wide-range trading structure. The trading strategy remains to buy low and sell high, with the intraday range to watch being 4040-4110. Gold opened slightly higher today. The daily chart is forming a contracting triangle pattern, suggesting further upside potential. However, don't forget the release of the Fed meeting minutes during the New York session today; this news could be positive for gold, and upward momentum might be released before the news. Support below 4000 is very strong, and market sentiment has shifted from bearish to bullish. There is a high probability that the rebound will continue today; the trading strategy is to buy on dips, focusing on buying at support levels. Key Levels: First Support: 4062, Second Support: 4043, Third Support: 4025 First Resistance: 4090, Second Resistance: 4108, Third Resistance: 4126 Gold Intraday Trading Strategy: Buy: 4045-4050, SL: 4035, TP: 4070-4080; Sell: 4115-4120, SL: 4130, TP: 4100-4090; More Analysis →