Gold prices fluctuated downwards yesterday, bottoming out near $4019 before rebounding to close around $4054. The Bollinger Bands narrowed slightly, with the price trading below the middle band. The TRIX indicator showed a golden cross, and the KDJ indicator began to turn upwards. The US dollar index showed a weak daily trend, with the MACD indicator showing increasing downward momentum, indicating a bearish bias and supporting gold. Gold's intraday trend remains bullish. If it breaks above the daily Bollinger Band middle band at $4068, it could potentially rise above $4100.

On the hourly chart, gold rebounded after retracing to $4042 in the Asian session and is currently trading around $4060. The 5-day moving average is trending upwards, the TRIX indicator shows a golden cross, and the MACD indicator shows increasing upward momentum, indicating a short-term bullish advantage. Considering the daily chart, intraday trading for gold is recommended to focus on buying on dips to support levels. The next support level to watch is around the previous low of $4,020.

My recommendations:

BUY: 4030-4035, SL: 4020, TP: 4070-4080