#中国7月产出零售投资全线不及预期 Cheng Jingsheng｜8.17 Spot Gold Evening Analysis
In the morning, gold price stabilized around 4367 and rebounded, rising as high as 4416 before meeting resistance and pulling back. During the European session, prices were mainly range-bound and traded around 4390.
Throughout today, there are no major market-moving news releases; the market is driven entirely by technical factors.
In the European session, price repeatedly wrestled around the 4400 psychological level, making multiple upward attempts that failed to achieve a convincing breakout. The good news is that the 4390 support below has sufficient hold; with price neither moving up strongly nor falling sharply, bulls and bears have not yet shown a clear direction.
In the evening U.S. session, the 4400 level will still act as the key line dividing strength and weakness. If price can break through it effectively and hold above, the bulls may continue probing higher toward 4415 and 4435. If repeated attempts to push through 4400 keep failing and price turns downward under pressure, there is no need to be overly bearish about the downside; most likely it will be a pullback for correction. Support to watch lies at 4380 and 4360.
Range-bound conditions are common in the U.S. session. Don’t make a one-sided bet too early—wait for the breakout signal around key levels, then trade in line with the trend. All orders must set stop-losses strictly, and keep position sizes light to control risk.
The above is only my personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng’s Shipàn plan for the specifics!$XAU
#XAUUSD
In the morning, gold price stabilized around 4367 and rebounded, rising as high as 4416 before meeting resistance and pulling back. During the European session, prices were mainly range-bound and traded around 4390.
Throughout today, there are no major market-moving news releases; the market is driven entirely by technical factors.
In the European session, price repeatedly wrestled around the 4400 psychological level, making multiple upward attempts that failed to achieve a convincing breakout. The good news is that the 4390 support below has sufficient hold; with price neither moving up strongly nor falling sharply, bulls and bears have not yet shown a clear direction.
In the evening U.S. session, the 4400 level will still act as the key line dividing strength and weakness. If price can break through it effectively and hold above, the bulls may continue probing higher toward 4415 and 4435. If repeated attempts to push through 4400 keep failing and price turns downward under pressure, there is no need to be overly bearish about the downside; most likely it will be a pullback for correction. Support to watch lies at 4380 and 4360.
Range-bound conditions are common in the U.S. session. Don’t make a one-sided bet too early—wait for the breakout signal around key levels, then trade in line with the trend. All orders must set stop-losses strictly, and keep position sizes light to control risk.
The above is only my personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng’s Shipàn plan for the specifics!$XAU
#XAUUSD