8.13 Spot Gold (XAU/USD) Morning View
Overnight CPI came out, the price spiked up then fell back. In the morning, it’s consolidating on the weaker side. The larger uptrend structure for buyers remains intact; this is profit-taking after a big surge.
On the one-hour chart, the Bollinger Bands are overall trending upward. The midline at 4411 serves as an important support. Overhead resistance lies at 4434–4441. As long as price holds above the midline, the pullback at higher levels is considered a healthy correction.
Trading suggestion: Pull back to 4400–4415, then go long once it stabilizes, targeting 4430–4455. If the rebound near 4438 stalls, you may take a small position to play a short-term pullback.
Risk control: Defend below 4390. In a ranging market, do not chase rallies or selloffs; set a strict stop loss and manage position size carefully. $XAU
Overnight CPI came out, the price spiked up then fell back. In the morning, it’s consolidating on the weaker side. The larger uptrend structure for buyers remains intact; this is profit-taking after a big surge.
On the one-hour chart, the Bollinger Bands are overall trending upward. The midline at 4411 serves as an important support. Overhead resistance lies at 4434–4441. As long as price holds above the midline, the pullback at higher levels is considered a healthy correction.
Trading suggestion: Pull back to 4400–4415, then go long once it stabilizes, targeting 4430–4455. If the rebound near 4438 stalls, you may take a small position to play a short-term pullback.
Risk control: Defend below 4390. In a ranging market, do not chase rallies or selloffs; set a strict stop loss and manage position size carefully. $XAU