August 17 (Friday) Man Gold Evening Review: The long position structure remains intact, but momentum is converging. Follow the trend to enter shorts in the high-range area!
Gold faced pressure and pulled back from the 4449.84 peak, dipped to the 4223.46 low where selling paused and the market stabilized. It then started a choppy rebound and repair move. The current price is 4395.69. After rising back toward the prior high resistance zone, upward momentum has slowed somewhat. The battle between bulls and bears has intensified, and overall the market is in a consolidation phase during the rebound.
Expectations for the Fed to cut rates in September continue to build. The US Dollar Index remains weak and drifting lower, providing the core fundamental support for gold’s rebound. At the same time, geopolitical risk-hedging sentiment is still offering a backstop. Together, these factors drive gold’s repair-and-recovery rally from the lows.
On the 4-hour chart, after probing lower and rebounding, price has continued the rebound. It has now reached the area near the prior high sell-pressure zone. Short-term MA5, MA10, and MA20 are all forming an upward support structure, and the overall bullish structure remains intact. However, as price approaches the resistance level, the thrust of the bulls’ advance is gradually converging, and the risk of a shakeout and pullback after a push higher has increased.
In terms of trading, you may wait for price to rebound into the 4415-4435 zone, then look to set up short positions once it meets resistance there. Downside targets to watch are 4370 first, followed by 4350.
#黄金 $NVDAB $AAPLB
Gold faced pressure and pulled back from the 4449.84 peak, dipped to the 4223.46 low where selling paused and the market stabilized. It then started a choppy rebound and repair move. The current price is 4395.69. After rising back toward the prior high resistance zone, upward momentum has slowed somewhat. The battle between bulls and bears has intensified, and overall the market is in a consolidation phase during the rebound.
Expectations for the Fed to cut rates in September continue to build. The US Dollar Index remains weak and drifting lower, providing the core fundamental support for gold’s rebound. At the same time, geopolitical risk-hedging sentiment is still offering a backstop. Together, these factors drive gold’s repair-and-recovery rally from the lows.
On the 4-hour chart, after probing lower and rebounding, price has continued the rebound. It has now reached the area near the prior high sell-pressure zone. Short-term MA5, MA10, and MA20 are all forming an upward support structure, and the overall bullish structure remains intact. However, as price approaches the resistance level, the thrust of the bulls’ advance is gradually converging, and the risk of a shakeout and pullback after a push higher has increased.
In terms of trading, you may wait for price to rebound into the 4415-4435 zone, then look to set up short positions once it meets resistance there. Downside targets to watch are 4370 first, followed by 4350.
#黄金 $NVDAB $AAPLB