8.14 Jinan Morning Analysis:
This morning, gold prices continued the weak pattern from last night. After yesterday’s attempt higher to test the 4449 high, price was rejected and pulled back.
The trend on the one-hour and two-hour timeframes has weakened. What we’re seeing now is only a small rebound after the decline, with limited upside room. Overhead resistance is heavy, and the broader structure of the pullback has not changed. Treat the intraday outlook as range-bound. Focus on whether either side of the range breaks out.
Inflation-related expectations have already been fully digested. The U.S. dollar and U.S. Treasuries remain strong, and combined with profit-taking from high-level positions, gold is under pressure and trading weaker.
If gold rebounds into the 4380—4400 area, consider buying with a strategy akin to placing “菊箜單”.
Targets: around 4350, 4330, and 4300. #外汇黄金 #黄金
This morning, gold prices continued the weak pattern from last night. After yesterday’s attempt higher to test the 4449 high, price was rejected and pulled back.
The trend on the one-hour and two-hour timeframes has weakened. What we’re seeing now is only a small rebound after the decline, with limited upside room. Overhead resistance is heavy, and the broader structure of the pullback has not changed. Treat the intraday outlook as range-bound. Focus on whether either side of the range breaks out.
Inflation-related expectations have already been fully digested. The U.S. dollar and U.S. Treasuries remain strong, and combined with profit-taking from high-level positions, gold is under pressure and trading weaker.
If gold rebounds into the 4380—4400 area, consider buying with a strategy akin to placing “菊箜單”.
Targets: around 4350, 4330, and 4300. #外汇黄金 #黄金