Cheng Jingsheng｜Spot Gold Midday Analysis
After the morning gold price opened with a slight adjustment and then rebounded to around 4416, it faced pressure and pulled back. It is currently consolidating around 4390. There was no major news released in the morning; the market is being driven entirely by technical factors.
On the 1-hour timeframe, the price surged to the upper band of the Bollinger Bands, then came under pressure and pulled back. It has printed two consecutive doji bearish candles, and the bulls’ upward momentum has temporarily stalled. The MACD red histogram is shrinking in sync, and the short-term pullback signal is clear. In the afternoon, the key to watch is whether the 4400 level can break through effectively, as this will determine the strength or weakness direction of the afternoon session.
Plan afternoon trades based on the 4400 level. If price breaks above it effectively and holds, you can follow through to target 4410 and 4425. If repeated attempts fail and the price falls back under pressure, the market may continue to probe lower toward 4380 and 4360 to find support. When entering the market, be sure to set your stop loss and manage position risk.
The above is only personal advice for reference. Don’t hold it against anyone if it’s right or wrong; it does not constitute investment guidance. Please refer to Cheng Jingsheng’s Shipan trading plan for specifics!$XAU
#XAUUSD
After the morning gold price opened with a slight adjustment and then rebounded to around 4416, it faced pressure and pulled back. It is currently consolidating around 4390. There was no major news released in the morning; the market is being driven entirely by technical factors.
On the 1-hour timeframe, the price surged to the upper band of the Bollinger Bands, then came under pressure and pulled back. It has printed two consecutive doji bearish candles, and the bulls’ upward momentum has temporarily stalled. The MACD red histogram is shrinking in sync, and the short-term pullback signal is clear. In the afternoon, the key to watch is whether the 4400 level can break through effectively, as this will determine the strength or weakness direction of the afternoon session.
Plan afternoon trades based on the 4400 level. If price breaks above it effectively and holds, you can follow through to target 4410 and 4425. If repeated attempts fail and the price falls back under pressure, the market may continue to probe lower toward 4380 and 4360 to find support. When entering the market, be sure to set your stop loss and manage position risk.
The above is only personal advice for reference. Don’t hold it against anyone if it’s right or wrong; it does not constitute investment guidance. Please refer to Cheng Jingsheng’s Shipan trading plan for specifics!$XAU
#XAUUSD