8、14 evening market outlook analysis strategy:
After the gold price dips to the intraday low of 4310.94, it strongly rebounds. The current price is 4374.76. On the one-hour timeframe, price has moved above the short-term moving averages, and the short-term bearish momentum has been released, bringing about a technical corrective rebound. The primary resistance overhead is 4375-4386, which is the moving-average pressure zone from the prior period. Downward support has shifted up to around 4346, which is the defense level for this rebound’s initial upswing.
Tonight, the U.S. retail sales data is about to be released. Any fluctuations in the data can easily disrupt the current rebound rhythm, so you should not blindly chase the rally. The overall larger-cycle bearish structure has not been fully reversed. This rebound is only a repair move following a pullback.
Trading plan: Short at 4375-4390, stop loss above 4390, and target around 4350. If the level breaks, watch 4330.$XAU #黄金
After the gold price dips to the intraday low of 4310.94, it strongly rebounds. The current price is 4374.76. On the one-hour timeframe, price has moved above the short-term moving averages, and the short-term bearish momentum has been released, bringing about a technical corrective rebound. The primary resistance overhead is 4375-4386, which is the moving-average pressure zone from the prior period. Downward support has shifted up to around 4346, which is the defense level for this rebound’s initial upswing.
Tonight, the U.S. retail sales data is about to be released. Any fluctuations in the data can easily disrupt the current rebound rhythm, so you should not blindly chase the rally. The overall larger-cycle bearish structure has not been fully reversed. This rebound is only a repair move following a pullback.
Trading plan: Short at 4375-4390, stop loss above 4390, and target around 4350. If the level breaks, watch 4330.$XAU #黄金