8/12 Gold Morning Outlook
The overnight price pullback from the high is a normal retracement within an uptrend, not a trend reversal. The larger uptrend structure remains intact. The upward momentum built by earlier long positions has not been fully used up. In the short term, the decline is mostly volatility caused by short-term profit-taking liquidation. After the price retests and pulls back to the support area, the value-to-risk ratio is extremely high. Entering long by buying near support aligns with trend-following principles and is also the safest way to enter during the day.
On the daily timeframe, moving averages continue to slope upward and keep supporting the price. The medium- to long-term uptrend is still intact. This round of pullback is only a short-term technical correction. On the one-hour timeframe, the price has fallen back to a key support band. Short-term oversold indicators are gradually moving to low levels, and reversal/stop-decline signals may appear at any time.
Today’s first support zone is 4360. The core strong support is 4320. The short-term resistance above is around 4390, and the previous high is near 4400.
In the Asian session, it is likely to range and consolidate to build energy, waiting for a stabilization signal to trigger an upswing.
Trading Suggestions
• Look for long entries near 4360 on the pullback. Place stops below 4345. First target is 4390. If it breaks through, it can be expected to move toward around 4400.
• If the price deeply retraces and stabilizes near the 4320 level and stops falling, add to the long positions for a second entry. Place stops below 4300. Focus on a rebound that recovers the higher range.
$XAUT #黄金
The overnight price pullback from the high is a normal retracement within an uptrend, not a trend reversal. The larger uptrend structure remains intact. The upward momentum built by earlier long positions has not been fully used up. In the short term, the decline is mostly volatility caused by short-term profit-taking liquidation. After the price retests and pulls back to the support area, the value-to-risk ratio is extremely high. Entering long by buying near support aligns with trend-following principles and is also the safest way to enter during the day.
On the daily timeframe, moving averages continue to slope upward and keep supporting the price. The medium- to long-term uptrend is still intact. This round of pullback is only a short-term technical correction. On the one-hour timeframe, the price has fallen back to a key support band. Short-term oversold indicators are gradually moving to low levels, and reversal/stop-decline signals may appear at any time.
Today’s first support zone is 4360. The core strong support is 4320. The short-term resistance above is around 4390, and the previous high is near 4400.
In the Asian session, it is likely to range and consolidate to build energy, waiting for a stabilization signal to trigger an upswing.
Trading Suggestions
• Look for long entries near 4360 on the pullback. Place stops below 4345. First target is 4390. If it breaks through, it can be expected to move toward around 4400.
• If the price deeply retraces and stabilizes near the 4320 level and stops falling, add to the long positions for a second entry. Place stops below 4300. Focus on a rebound that recovers the higher range.
$XAUT #黄金