Gold opened higher this morning but then pulled back, with the price facing resistance at 4550. It then dipped to the 30-minute moving average at around 4472 before rebounding. The correction was quite significant. But don’t rush to sell; this wave of adjustment is not a sign of a reversal.

Last week, gold surged to new highs. The recent pullback on Friday? Simply a normal correction during a strong upward trend. The 1-hour moving average system remains in a bullish alignment, which indicates—consolidation. After the correction, it will continue upward.

The key support level is firmly at the 4500 integer mark. Falling below it would extend the consolidation period, but it’s not too pessimistic for now. Short-term resistance is focused on the 4520-4530 range. If these levels hold, there’s still room for upward movement.

From an entry perspective, consider going long around 4500-4490. The initial target is 4520-4535. If a breakout occurs here, 4545 is within reach.

Technically, there are no clear bearish signals; instead, the consolidation characteristics are obvious. The trends of Bitcoin and Ethereum are also under observation. The overall market remains the same—adjustments are just building momentum, and pullbacks are opportunities. Of course, trade risks are on your own.