8.6 Gold Midnight Commentary
The evening outlook for the market—consolidation at high levels, followed by a pullback and then going long—was successfully executed. After the initial job data was released, gold price dipped to the 4230 support and quickly stopped falling, rebounding sharply. The predicted support level proved accurate, and the overall bullish long-term trend has not changed.
The technical picture has changed noticeably. The 30-minute Bollinger Bands have narrowed and flattened, and the gold price is being held below the middle band. The one-hour Bollinger upper band has turned downward; the indicators have returned to a neutral position. Near-term upward momentum has weakened, and price is entering a range-bound consolidation phase, building energy.
Resistance levels: 4270, 4284
Support levels: 4240, 4230.
Trading Plan
At midnight, wait for price to retrace to 4220–4245 to place the <哆丹> long, targeting 4260 and 4280.
Note: This is for reference only. The market may shift at any time—please manage risk carefully $XAU
The evening outlook for the market—consolidation at high levels, followed by a pullback and then going long—was successfully executed. After the initial job data was released, gold price dipped to the 4230 support and quickly stopped falling, rebounding sharply. The predicted support level proved accurate, and the overall bullish long-term trend has not changed.
The technical picture has changed noticeably. The 30-minute Bollinger Bands have narrowed and flattened, and the gold price is being held below the middle band. The one-hour Bollinger upper band has turned downward; the indicators have returned to a neutral position. Near-term upward momentum has weakened, and price is entering a range-bound consolidation phase, building energy.
Resistance levels: 4270, 4284
Support levels: 4240, 4230.
Trading Plan
At midnight, wait for price to retrace to 4220–4245 to place the <哆丹> long, targeting 4260 and 4280.
Note: This is for reference only. The market may shift at any time—please manage risk carefully $XAU