8、19 afternoon market outlook analysis strategy:
The gold price previously plunged sharply from the 4436.18 high, dropping to a low of 4324.67. The current quote is 4355.18, showing a rebound repair after the big selloff. On the hourly timeframe, short-term moving averages have turned upward. Price is moving toward the 20-day moving average at 4356.60, but the rebound is being met with resistance from the moving average. The overall higher-timeframe bearish pattern has not changed; this is only a technical rebound/repair after the decline, not a trend reversal.
Short-term resistance above: 4356–4362—this is the 20-day moving average plus today’s high. Only if price holds above this area will the rebound space open further; stronger resistance is 4393.
Short-term support below: 4346–4348. The strong support is the recent low of 4324.67. If price breaks below again, the bears will take control of the market once more.
Recommendation:
Try short positions in the pressure zone of 4356–4378. Targets are 4346–438. If support breaks, look for around 4325.$XAU #黄金
The gold price previously plunged sharply from the 4436.18 high, dropping to a low of 4324.67. The current quote is 4355.18, showing a rebound repair after the big selloff. On the hourly timeframe, short-term moving averages have turned upward. Price is moving toward the 20-day moving average at 4356.60, but the rebound is being met with resistance from the moving average. The overall higher-timeframe bearish pattern has not changed; this is only a technical rebound/repair after the decline, not a trend reversal.
Short-term resistance above: 4356–4362—this is the 20-day moving average plus today’s high. Only if price holds above this area will the rebound space open further; stronger resistance is 4393.
Short-term support below: 4346–4348. The strong support is the recent low of 4324.67. If price breaks below again, the bears will take control of the market once more.
Recommendation:
Try short positions in the pressure zone of 4356–4378. Targets are 4346–438. If support breaks, look for around 4325.$XAU #黄金