8.18 Investing Client Gold Midday Review: Flash Crash of 50 Points! Gold Bulls Get Slammed
Gold staged a deep retracement characterized by a run-up followed by a drop. Early on, price surged to the 4436 area, then the bears suddenly stepped in with concentrated selling pressure. Prices plunged rapidly and probed down to the 4386 intraday low. Afterwards, at the low end, it stabilized and rebounded slightly with consolidation.
On the 10-minute timeframe, a short-term decline pattern of rally then reversal has already formed. The 4436 area confirms a near-term strong resistance zone, while around 4386 lies a key support level on the downside. After price broke below the short-term moving average, the MACD green histogram gradually narrowed following an initial expansion. Bearish momentum has been preliminarily released.
On the rebound, consider placing short positions in the 4400–4420 range, targeting 4380 and 4350.
$XAU $HYPE $AKE #黄金
Gold staged a deep retracement characterized by a run-up followed by a drop. Early on, price surged to the 4436 area, then the bears suddenly stepped in with concentrated selling pressure. Prices plunged rapidly and probed down to the 4386 intraday low. Afterwards, at the low end, it stabilized and rebounded slightly with consolidation.
On the 10-minute timeframe, a short-term decline pattern of rally then reversal has already formed. The 4436 area confirms a near-term strong resistance zone, while around 4386 lies a key support level on the downside. After price broke below the short-term moving average, the MACD green histogram gradually narrowed following an initial expansion. Bearish momentum has been preliminarily released.
On the rebound, consider placing short positions in the 4400–4420 range, targeting 4380 and 4350.
$XAU $HYPE $AKE #黄金