8.18 Spot Gold (XAU/USD) Midday Outlook
A downward CHoCH on the 30-minute chart has played out, indicating that short-term buying pressure has already faded. What you’re seeing now is not just a minor pullback—it’s a real, in-depth digestion at high levels.
Watch the 4385–4395 “lifeline.” If it holds, this is just consolidation during the uptrend, and there will be an opportunity to push up again and retest the prior high;
If the hourly body breaks through this range, then this leg of the rally will be considered to have ended at the stage level. Don’t remain fixated on going long—expect a deeper pullback.
Recommendation: Go long in the 4385–4395 zone. Targets: 4420, 4440, 4480.
A downward CHoCH on the 30-minute chart has played out, indicating that short-term buying pressure has already faded. What you’re seeing now is not just a minor pullback—it’s a real, in-depth digestion at high levels.
Watch the 4385–4395 “lifeline.” If it holds, this is just consolidation during the uptrend, and there will be an opportunity to push up again and retest the prior high;
If the hourly body breaks through this range, then this leg of the rally will be considered to have ended at the stage level. Don’t remain fixated on going long—expect a deeper pullback.
Recommendation: Go long in the 4385–4395 zone. Targets: 4420, 4440, 4480.
