Gold prices continue to consolidate at low levels, and there is no clear one-way signal yet! Today is suitable for range-bound (spot/“pin”) trading
Many friends have asked: yesterday, gold moved upward a bit—does that mean a one-way upward trend is about to begin? Don’t rush into it yet. Let’s talk about the market picture right now.
The current low-level consolidation pattern hasn’t been broken. Even though the price edged up yesterday, that bit of rebound alone isn’t enough to confirm that the uptrend will continue. Don’t treat it directly as a one-way rally and chase in. In terms of trading, be extra careful.
Looking at the bigger timeframe, both the 8-hour and 12-hour Bollinger Bands are moving sideways. The market is still stuck in a box range, oscillating back and forth, with no sign of an upside breakout for the moment. The 8-hour resistance is around 4110, and the 12-hour resistance is around 4135. These two levels are the key “pin points” above.
Short-term support has slightly lifted. First, look around 4060. Also, 4070—an important level that the price repeatedly tested over the past few days—is another key support.
Overall: for today, short-term trading is best suited to pin/range trading. The direction between long and short is not clear right now, so don’t bet on a one-way move.
Long positions can look for opportunities near 4070 and 4060;
Short positions can reference the resistance/pin point around 4135.
The author’s personal opinion in this post is for reference only and does not constitute investment advice. Please be cautious with risk investments. Capital is paramount—profits and losses are your own responsibility. #黄金
Many friends have asked: yesterday, gold moved upward a bit—does that mean a one-way upward trend is about to begin? Don’t rush into it yet. Let’s talk about the market picture right now.
The current low-level consolidation pattern hasn’t been broken. Even though the price edged up yesterday, that bit of rebound alone isn’t enough to confirm that the uptrend will continue. Don’t treat it directly as a one-way rally and chase in. In terms of trading, be extra careful.
Looking at the bigger timeframe, both the 8-hour and 12-hour Bollinger Bands are moving sideways. The market is still stuck in a box range, oscillating back and forth, with no sign of an upside breakout for the moment. The 8-hour resistance is around 4110, and the 12-hour resistance is around 4135. These two levels are the key “pin points” above.
Short-term support has slightly lifted. First, look around 4060. Also, 4070—an important level that the price repeatedly tested over the past few days—is another key support.
Overall: for today, short-term trading is best suited to pin/range trading. The direction between long and short is not clear right now, so don’t bet on a one-way move.
Long positions can look for opportunities near 4070 and 4060;
Short positions can reference the resistance/pin point around 4135.
The author’s personal opinion in this post is for reference only and does not constitute investment advice. Please be cautious with risk investments. Capital is paramount—profits and losses are your own responsibility. #黄金