8/14 Gold
On the 4-hour chart, gold has pulled back from the prior high. It has already broken below the Bollinger middle band. The current price is near the lower Bollinger band. The upward momentum has been disrupted, and the short-term trend has turned bearish.
The Bollinger Bands channel is still overall trending upward. The larger, medium-term bullish structure has not been completely broken; the current phase is a high-level pullback.
The short-term RSI(6) is 26.91, close to the oversold zone around 20. Short-term downside momentum has been sufficiently released, and there is a need for a technical, modest rebound/repair. Meanwhile, the RSI on the medium- to long-term cycles remains in a neutral range, with no clear signal of sustained deep weakness.
Trading recommendation:
Go north (buy) in the 4300–4320 zone. Targets: 4380–4450. Stop-loss/defense: 4280.
(For reference only—follow the live market!)
On the 4-hour chart, gold has pulled back from the prior high. It has already broken below the Bollinger middle band. The current price is near the lower Bollinger band. The upward momentum has been disrupted, and the short-term trend has turned bearish.
The Bollinger Bands channel is still overall trending upward. The larger, medium-term bullish structure has not been completely broken; the current phase is a high-level pullback.
The short-term RSI(6) is 26.91, close to the oversold zone around 20. Short-term downside momentum has been sufficiently released, and there is a need for a technical, modest rebound/repair. Meanwhile, the RSI on the medium- to long-term cycles remains in a neutral range, with no clear signal of sustained deep weakness.
Trading recommendation:
Go north (buy) in the 4300–4320 zone. Targets: 4380–4450. Stop-loss/defense: 4280.
(For reference only—follow the live market!)