Gold Market Trend Analysis On February 23, the daily chart indicates that the technical setup for gold has shifted to neutral-bullish. However, a breakthrough above the $5,200 level is required to propel prices further upward. Once this resistance is breached, the next target would be $5,300, followed by the January 30 high near $5,450.

The 4-hour chart shows the price moving along a short-term ascending channel. The MACD remains above the zero line with expanding momentum bars, and the RSI is above 60, suggesting that bullish forces still hold the advantage.

On the downside, the psychological support at $5,000 serves as a key level. A break below this point could lead gold to test the February 17 low around $4,841. Overall, while technical indicators lean bullish, market sentiment remains the primary driver of volatility.

In summary, for intraday trading, it is advisable to follow the prevailing trend. Key reference levels include $5,130, $5,100, and $5,060, with the $5,000–$4,980 zone acting as a critical support-resistance threshold. A light short position may be considered near $5,170, while a brief decline could be anticipated around the $5,330 resistance level. Traders should also be prepared for a potential breakout above $5,600. Specific trading decisions should be adjusted based on real-time market conditions.