8、3 Morning Outlook: Market Analysis & Strategy
After a sharp drop, the gold price tested the 4020.94 low and then stabilized. This morning, the market opened and started a rebound from the low at 4063. The current quotation is 4065.09, up slightly by 0.53%, which falls under a technical rebound after the decline.
From the one-hour moving average system: the 5-day moving average has turned upward and pierced through the 10-day moving average, showing short-term bullish repair signals. However, the 20-day moving average at 4056.59 still suppresses the upside. The overall larger-cycle bearish structure has not yet reversed.
Recommendation
Sell 4065-4088, target 4040, 4020 $XAU #黄金行情
After a sharp drop, the gold price tested the 4020.94 low and then stabilized. This morning, the market opened and started a rebound from the low at 4063. The current quotation is 4065.09, up slightly by 0.53%, which falls under a technical rebound after the decline.
From the one-hour moving average system: the 5-day moving average has turned upward and pierced through the 10-day moving average, showing short-term bullish repair signals. However, the 20-day moving average at 4056.59 still suppresses the upside. The overall larger-cycle bearish structure has not yet reversed.
Recommendation
Sell 4065-4088, target 4040, 4020 $XAU #黄金行情