#XAU 8.5 Yangping Gold Midday Review
Starting from the early morning low of 4066, a strong surge began. After touching the intraday high of 4136.53 in the midday session, the upward momentum slowed down. The candlestick chart closed with a mild choppy consolidation. Short-term long profit-taking began to exit, and the market entered a brief pause phase.
On the 15-minute cycle, the price has already pulled far away from the moving averages, suggesting a need for a pullback toward the MA. At present, the moving averages are lifting and supporting the gold price upward. As long as the MA support is not broken downward, the structure of this upswing will not be compromised.
At this stage, the short-term move has already completed an upside breakout. To return to a weak downward trend, the price would need to fall back below 4066. As long as this key low is held, the short-term outlook remains dominated by the bulls.
There is no major economic data released at midday. The market is driven mainly by short-term capital sentiment right now. Next, pay close attention to information released in the evening. If any downside news emerges, it can easily trigger a pullback from the high levels.
Trading Ideas
On rebounds, consider placing sell orders in batches around the 4150–4165 zone, targeting 4115.
On pullbacks, when the 4105–4115 zone stabilizes and selling pressure eases, look for low-buys, targeting 4140–4155. If price breaks below this support range, abandon the long bias.
Starting from the early morning low of 4066, a strong surge began. After touching the intraday high of 4136.53 in the midday session, the upward momentum slowed down. The candlestick chart closed with a mild choppy consolidation. Short-term long profit-taking began to exit, and the market entered a brief pause phase.
On the 15-minute cycle, the price has already pulled far away from the moving averages, suggesting a need for a pullback toward the MA. At present, the moving averages are lifting and supporting the gold price upward. As long as the MA support is not broken downward, the structure of this upswing will not be compromised.
At this stage, the short-term move has already completed an upside breakout. To return to a weak downward trend, the price would need to fall back below 4066. As long as this key low is held, the short-term outlook remains dominated by the bulls.
There is no major economic data released at midday. The market is driven mainly by short-term capital sentiment right now. Next, pay close attention to information released in the evening. If any downside news emerges, it can easily trigger a pullback from the high levels.
Trading Ideas
On rebounds, consider placing sell orders in batches around the 4150–4165 zone, targeting 4115.
On pullbacks, when the 4105–4115 zone stabilizes and selling pressure eases, look for low-buys, targeting 4140–4155. If price breaks below this support range, abandon the long bias.