The current bullish or bearish trend remains unclear!GOLD / US DOLLARPYTH:XAUUSDChuck_WilsonGold prices rallied and then retreated throughout Wednesday, falling from 4840 to a low of 4698. After Wednesday's drop, many might expect further declines today, but I believe gold will likely enter a period of consolidation. The reasoning remains the same: above 4700, don't be overly bearish or expect a sharp drop; a rebound is quite possible today, so pay attention to the market's rhythm. Technically, the daily chart shows a standard doji at the high, primarily influenced by market news rather than fund flows. However, the close near the daily Bollinger Band's middle line means that Thursday and Friday's candlesticks could close bullish or bearish, it's uncertain. A bullish close could reach 4860; a bearish close could test the previous low of 4550. As I mentioned in my Wednesday analysis on the H4 chart, the candlestick closed below the upper Bollinger Band, indicating a consolidation pattern. The pullback to the middle Bollinger Band around 4700 provided significant support. Therefore, today we'll first look for a rebound above 4700. If it rises during the Asian and European sessions, the first resistance level is 4760, and if the momentum is strong, we'll see 4800. On the downside, the first support level is 4700, and if that breaks, we'll look at 4650-4630. Trading Strategy: We recommend buying in the 4700 area, with a stop-loss below 4685. If the price touches around 4760 for the first time during the day, a small short position can also be considered. XAUUSD GOLD XAUUSD GOLD XAUUSD