8.13 Gold Midnight Brief Review
In the gold evening session, price moved out of an intraday spike and then pulled back sharply. From the daily high of 4449, it fell significantly to a low of 4358. The current price is hovering around 4363. After the release of the PPI data, selling pressure surged in the market, and the strength of the short-term pullback has become明显ly stronger.
Looking at the 4-hour candlestick chart, the previously sustained uptrend pace has slowed down. The technical indicators have turned downward, initiating a clear pullback and correction. However, the broader bullish structure on the higher timeframe has not been fully broken; what we are seeing now is just a deep corrective phase following a big rally.
Overhead resistance zone: 4390–4410
Key support zone: 4330–4350
Trading reference:
Wait for the price to retest the support area and stabilize before considering going long. For 4330–4350, watch for low-long opportunities. The upside target is 4390–4410.
In the gold evening session, price moved out of an intraday spike and then pulled back sharply. From the daily high of 4449, it fell significantly to a low of 4358. The current price is hovering around 4363. After the release of the PPI data, selling pressure surged in the market, and the strength of the short-term pullback has become明显ly stronger.
Looking at the 4-hour candlestick chart, the previously sustained uptrend pace has slowed down. The technical indicators have turned downward, initiating a clear pullback and correction. However, the broader bullish structure on the higher timeframe has not been fully broken; what we are seeing now is just a deep corrective phase following a big rally.
Overhead resistance zone: 4390–4410
Key support zone: 4330–4350
Trading reference:
Wait for the price to retest the support area and stabilize before considering going long. For 4330–4350, watch for low-long opportunities. The upside target is 4390–4410.