8.18 Gold Evening Analysis
In the evening, gold prices gradually retreated from the intraday high of 4436 and are currently trading around 4394. This round is a normal pullback and shakeout after a spike upward; it does not indicate a trend reversal.
Hourly indicators have weakened and have driven the price to decline, but the 4-hour, larger timeframe still maintains its high-level range-box operation. Overall, the bullish structure remains intact. This downward move is mainly to digest the chasing buy orders above.
Key defense support below is 4385–4370. As long as this range is not effectively broken, the bulls still have the conditions to launch another push higher.
Key Price Levels to Watch
Resistance: 4415–4435
Support: 4385–4370
Reference Approach
If the price pullback into the 4385–4370 zone shows signs of stabilization, you may consider a long (“do dan”) opportunity. Targets are 4415–4435. If there is a valid breakout, you can further test the prior swing high.
#以太坊基金会启动Glamsterdam测试网
#美元跌至10周低点
$ETH $XAU
In the evening, gold prices gradually retreated from the intraday high of 4436 and are currently trading around 4394. This round is a normal pullback and shakeout after a spike upward; it does not indicate a trend reversal.
Hourly indicators have weakened and have driven the price to decline, but the 4-hour, larger timeframe still maintains its high-level range-box operation. Overall, the bullish structure remains intact. This downward move is mainly to digest the chasing buy orders above.
Key defense support below is 4385–4370. As long as this range is not effectively broken, the bulls still have the conditions to launch another push higher.
Key Price Levels to Watch
Resistance: 4415–4435
Support: 4385–4370
Reference Approach
If the price pullback into the 4385–4370 zone shows signs of stabilization, you may consider a long (“do dan”) opportunity. Targets are 4415–4435. If there is a valid breakout, you can further test the prior swing high.
#以太坊基金会启动Glamsterdam测试网
#美元跌至10周低点
$ETH $XAU