8.18 Tuesday Midnight Gold Analysis: After a recent round of rapid gold price rebound, short-term gains have been overstretched. Long positions have accumulated a large amount of profit-taking capital, and the desire to take profit and exit at high levels is extremely strong. Gold ETFs have continued to show fund outflows, speculative longs have sharply reduced positions, and buy-side momentum has quickly exhausted.
On the higher time frame, repeated attempts to break through key resistance at high levels have all failed. Frequent rallies end with long upper wicks and shooting-star lines, with the highs gradually moving lower, forming a double-top pressure structure. Heavy sell pressure sits overhead, and bullish momentum has clearly run out.
4-hour and 1-hour chart indicators show a top divergence: price makes a slight push higher, but the RSI and MACD no longer set new highs in sync. Then the indicators turn and cross bearishly, the overbought area rolls over, and the need for a pullback has been fully released.
Gold Strategy: Short in the 4425–4245 range. Defend at 4460. Targets on the downside: 4400–4360–4330–4300 (below: $NVDAB #比特币徘徊63500美元 #CME九月加息概率降至30.6% )
On the higher time frame, repeated attempts to break through key resistance at high levels have all failed. Frequent rallies end with long upper wicks and shooting-star lines, with the highs gradually moving lower, forming a double-top pressure structure. Heavy sell pressure sits overhead, and bullish momentum has clearly run out.
4-hour and 1-hour chart indicators show a top divergence: price makes a slight push higher, but the RSI and MACD no longer set new highs in sync. Then the indicators turn and cross bearishly, the overbought area rolls over, and the need for a pullback has been fully released.
Gold Strategy: Short in the 4425–4245 range. Defend at 4460. Targets on the downside: 4400–4360–4330–4300 (below: $NVDAB #比特币徘徊63500美元 #CME九月加息概率降至30.6% )