9.22 Gold Market Morning Report: Double Tops Start to Curb the Price! Bulls Have Been Unable to Break Through
Since gold began its rebound at 4322, the bulls pushed it steadily up to the intraday high at 4376. However, it still failed to gain an effective foothold. Then, buying momentum gradually weakened, causing the price to fall back and enter a consolidation range in the upper area. Overall, the market is showing a pattern of lackluster upside, with gains stalling at high levels.
Market pricing of a Fed rate cut has started to be adjusted. The previously overly dovish expectations have begun to be dialed back. The U.S. Dollar Index has stopped falling and stabilized, while U.S. Treasury yields have rebounded slightly, directly weighing on gold’s valuation.
On the 15-minute timeframe, the current price has fallen back to trade below the mid-band of the prior consolidation platform. Overhead selling pressure continues to build. If the price cannot reclaim the 4380 area afterward, the support at the lower end of the range will face a test. A break below would officially open the door to further downside.
Plan to position short orders in the 4370–4390 area, with targets at 4330 and 4300
$XAU $HYPE #黄金
Since gold began its rebound at 4322, the bulls pushed it steadily up to the intraday high at 4376. However, it still failed to gain an effective foothold. Then, buying momentum gradually weakened, causing the price to fall back and enter a consolidation range in the upper area. Overall, the market is showing a pattern of lackluster upside, with gains stalling at high levels.
Market pricing of a Fed rate cut has started to be adjusted. The previously overly dovish expectations have begun to be dialed back. The U.S. Dollar Index has stopped falling and stabilized, while U.S. Treasury yields have rebounded slightly, directly weighing on gold’s valuation.
On the 15-minute timeframe, the current price has fallen back to trade below the mid-band of the prior consolidation platform. Overhead selling pressure continues to build. If the price cannot reclaim the 4380 area afterward, the support at the lower end of the range will face a test. A break below would officially open the door to further downside.
Plan to position short orders in the 4370–4390 area, with targets at 4330 and 4300
$XAU $HYPE #黄金
