8.12 Midday Gold Market Analysis — Shiyuan’s View
Gold surged up to 4439, then quickly pulled back to hit a low at 4316. In the afternoon, it rebounded to repair to the current price of 4406. Price action in the high range has been choppy and oscillatory, with repeated tug-of-war between bulls and bears intensifying. At this time, avoid blindly chasing rallies or cutting losses impulsively!
Gold
Resistance: 4420–4440
Support: First look at 4380–4390, then the stronger support at 4360
Recommendation: When the rebound approaches the 4420–4440 range, prioritize setting up short positions. The initial target is 4380–4390. If support breaks down, further downside could extend toward 4360. When price falls back to around 4360 and stabilizes to stop the decline, then with a small position size you can try a long for a rebound.$XAU
Gold surged up to 4439, then quickly pulled back to hit a low at 4316. In the afternoon, it rebounded to repair to the current price of 4406. Price action in the high range has been choppy and oscillatory, with repeated tug-of-war between bulls and bears intensifying. At this time, avoid blindly chasing rallies or cutting losses impulsively!
Gold
Resistance: 4420–4440
Support: First look at 4380–4390, then the stronger support at 4360
Recommendation: When the rebound approaches the 4420–4440 range, prioritize setting up short positions. The initial target is 4380–4390. If support breaks down, further downside could extend toward 4360. When price falls back to around 4360 and stabilizes to stop the decline, then with a small position size you can try a long for a rebound.$XAU