Gold price: In the first phase of the one-hour cycle, it surged upward and touched the upper Bollinger Band around 4438, met resistance and, after the high of 4435, quickly fell back, closing with a strong bearish long candle. It has now pulled back to below the Bollinger Band middle line. The upward momentum from the bulls has weakened, and the market has entered a pullback and consolidation/adjustment stage in the short term. The middle line at 4377 has turned into a short-term resistance level.
Short-term resistance: 4377, 4438
Short-term support: 4350, 4315
European session short-term outlook:
If there is a rebound that reaches the 4375–4380 range and you see signs of hesitation/stalling, consider opening a small short position. Look for a move down to 4350; if it breaks through, continue to look toward support around 4315.
If the price holds above 4380 on the rebound and, after any pullback, stabilizes, then reconsider setting up a long position at lower levels.
The short-term low at 4350 is the primary support. If it holds, it will enter a range-bound consolidation. #黄金
Short-term resistance: 4377, 4438
Short-term support: 4350, 4315
European session short-term outlook:
If there is a rebound that reaches the 4375–4380 range and you see signs of hesitation/stalling, consider opening a small short position. Look for a move down to 4350; if it breaks through, continue to look toward support around 4315.
If the price holds above 4380 on the rebound and, after any pullback, stabilizes, then reconsider setting up a long position at lower levels.
The short-term low at 4350 is the primary support. If it holds, it will enter a range-bound consolidation. #黄金