9.4 Gold Early Report
In the previous trading day, gold rose sharply on data-driven momentum, touching the 4510 high. During the night, it pulled back from the high level and is currently consolidating around 4474. On the hourly chart, the broader bullish trend remains intact, but the MACD shows a turning point, indicating that upside momentum has started to weaken. The 30-minute chart has formed a pullback pattern, and the short term has entered a high-level correction phase. Tonight, a major Non-Farm Payrolls (NFP) event is scheduled, and market trading activity may become more cautious. It is not advisable to chase longs blindly.
Key Levels
Resistance: 4490-4510
Support: 4450-4430
Trading Plan
Treat price action as range-bound during the day and wait for guidance from the NFP. If a rebound reaches the 4490-4510 area and shows signs of sluggishness, consider a short-term bet on a pullback targeting 4450-4430. If the 4430 support is broken effectively, the space for short-term downside correction may open up further. Pay close attention to potential volatility caused by the NFP data later tonight.
Note: This is for reference only. Market conditions may change at any time—manage risk carefully $XAU
In the previous trading day, gold rose sharply on data-driven momentum, touching the 4510 high. During the night, it pulled back from the high level and is currently consolidating around 4474. On the hourly chart, the broader bullish trend remains intact, but the MACD shows a turning point, indicating that upside momentum has started to weaken. The 30-minute chart has formed a pullback pattern, and the short term has entered a high-level correction phase. Tonight, a major Non-Farm Payrolls (NFP) event is scheduled, and market trading activity may become more cautious. It is not advisable to chase longs blindly.
Key Levels
Resistance: 4490-4510
Support: 4450-4430
Trading Plan
Treat price action as range-bound during the day and wait for guidance from the NFP. If a rebound reaches the 4490-4510 area and shows signs of sluggishness, consider a short-term bet on a pullback targeting 4450-4430. If the 4430 support is broken effectively, the space for short-term downside correction may open up further. Pay close attention to potential volatility caused by the NFP data later tonight.
Note: This is for reference only. Market conditions may change at any time—manage risk carefully $XAU