8.14 Gold Evening Market Strategy Analysis
The U.S. July retail sales month-over-month reading came in at -0.6%, significantly worse than the expected 0.1%. Weak economic data further reinforced expectations of Fed rate cuts, putting pressure on the U.S. dollar and directly driving a strong rebound in gold prices in the short term. During the day, price surged from the 4310 low to around 4387, with buying pressure being released in a concentrated manner.
On the 15-minute timeframe, there is a one-way bullish uptrend. Price continues to rise along the short-term moving averages, and the KDJ indicator has entered the overbought zone. After a series of strong short-term rallies, there is a technical pullback requirement. However, the larger-scale rebound structure remains intact, and the bullish trend is currently dominant in the short run.
Resistance: 4390–4400, with stronger resistance at 4410.
Support: 4360–4365. The intraday bullish/bearish pivot is 4350.
Trading Strategy
If price reaches 4395–4400 and meets resistance, consider a small-position short (light short). Set defense at 4412, and look for a pullback back to 4375–4365.
Due to data-driven volatility in the evening, avoid chasing upward. Prefer buying on pullbacks at lower levels. Only consider short selling as a short-term tactical play, and strictly use stop-losses.
$XAU
The U.S. July retail sales month-over-month reading came in at -0.6%, significantly worse than the expected 0.1%. Weak economic data further reinforced expectations of Fed rate cuts, putting pressure on the U.S. dollar and directly driving a strong rebound in gold prices in the short term. During the day, price surged from the 4310 low to around 4387, with buying pressure being released in a concentrated manner.
On the 15-minute timeframe, there is a one-way bullish uptrend. Price continues to rise along the short-term moving averages, and the KDJ indicator has entered the overbought zone. After a series of strong short-term rallies, there is a technical pullback requirement. However, the larger-scale rebound structure remains intact, and the bullish trend is currently dominant in the short run.
Resistance: 4390–4400, with stronger resistance at 4410.
Support: 4360–4365. The intraday bullish/bearish pivot is 4350.
Trading Strategy
If price reaches 4395–4400 and meets resistance, consider a small-position short (light short). Set defense at 4412, and look for a pullback back to 4375–4365.
Due to data-driven volatility in the evening, avoid chasing upward. Prefer buying on pullbacks at lower levels. Only consider short selling as a short-term tactical play, and strictly use stop-losses.
$XAU