Gold Price Analysis: Gold prices rose initially and then fell today, remaining within the normal range of a volatile market. From a technical perspective, the Bollinger Bands on the daily and 4-hour charts continue to narrow, and the moving averages are converging, indicating a clear consolidation pattern. Before the range is effectively broken, it is not advisable to predict the unilateral direction in advance. Current trading is more suitable for short-term swings and accumulating profits. From the daily chart structure, gold did not show a trend breakout last week due to fundamental events. Overall, it continued to fluctuate around the moving average band, and the rhythm of the movement was in line with previous expectations. As the fluctuation range continues to narrow, the market is waiting for a new catalyst to break the balance. Although there is no clear direction yet, considering the overall bearish structure in the medium term, the market is still more likely to move weakly after the fluctuation.

At the beginning of this week, pay close attention to the moving average resistance zone in the 4050-4080 area. The first resistance level to watch is around 4115, the high point of last week, while further strong resistance lies in the 4140-4150 area, which is the trend line and the upper edge of the range. On the downside, pay close attention to the 4000 psychological level and the support level around 3980, which is the trend line and the lower edge of the range. Looking at the hourly chart, the gold price movement at the beginning of the week is not expected to be very clear. On the one hand, the market is still digesting the impact of the expectation of the resumption of negotiations between the US and Iran; on the other hand, the non-farm payroll data will be released in the second half of the week, and the market is in a wait-and-see mood. It is expected that the short-term fluctuation range may further narrow. In the short term, the key resistance level to watch is the 4050-4080 area, with further strong resistance in the 4100-4120 area; the key support level to watch is the 4000-3980 area.

In terms of trading strategy, if the price rebounds to the 4050-4070 range and encounters resistance, consider shorting opportunities; if it retraces to the 4000-3980 range and stabilizes on the first pullback, consider placing a small long position.