8.11 Jingchuan Gold Evening Commentary
The long-term positives for gold prices still persist, including expectations of interest rate cuts, institutional bullish sentiment, and global central banks’ ongoing gold purchases. Within the day, after a sharp rise, profit-taking consolidation is underway. With no major data to break the balance, the evening market is mainly characterized by technical-side consolidation and repair. Long and short positioning is focused within the range of 4356-4435; direction will be guided by subsequent key data.
The Bollinger Bands have tightened and flattened, with price trading around the Bollinger midline near 4386. The upper band pressure is at 4428, while the lower-band support is gradually rising. MA5 and MA10 are sticking and intertwined; short-term moving averages are locked in a choppy tug-of-war. The MACD green histogram is shrinking, indicating that bearish pullback momentum is weakening. KDJ is turning upward from a low level, and short-term repair and rebound signals have begun to appear.
Key ranges: resistance above at 4400-4435; core support below at 4355-4360. If this support zone is held, the bullish uptrend continuation pattern remains intact. If there is a valid breakdown of the support zone, the room for this round of correction will expand.
On the pullback, scale in at 4365-4350. Targets: 4390-4430. If it breaks out, it will continue to challenge the intraday high of 4435. If the rebound stalls at 4430-4435, consider a low-leverage short-term trial short to bet on a pullback, #黄金
The long-term positives for gold prices still persist, including expectations of interest rate cuts, institutional bullish sentiment, and global central banks’ ongoing gold purchases. Within the day, after a sharp rise, profit-taking consolidation is underway. With no major data to break the balance, the evening market is mainly characterized by technical-side consolidation and repair. Long and short positioning is focused within the range of 4356-4435; direction will be guided by subsequent key data.
The Bollinger Bands have tightened and flattened, with price trading around the Bollinger midline near 4386. The upper band pressure is at 4428, while the lower-band support is gradually rising. MA5 and MA10 are sticking and intertwined; short-term moving averages are locked in a choppy tug-of-war. The MACD green histogram is shrinking, indicating that bearish pullback momentum is weakening. KDJ is turning upward from a low level, and short-term repair and rebound signals have begun to appear.
Key ranges: resistance above at 4400-4435; core support below at 4355-4360. If this support zone is held, the bullish uptrend continuation pattern remains intact. If there is a valid breakdown of the support zone, the room for this round of correction will expand.
On the pullback, scale in at 4365-4350. Targets: 4390-4430. If it breaks out, it will continue to challenge the intraday high of 4435. If the rebound stalls at 4430-4435, consider a low-leverage short-term trial short to bet on a pullback, #黄金