8.20 Gold Midday Commentary (AM)
As anticipated in the morning, the price action of a high-level range consolidation and repair was fully realized. After the gold price surged and topped, it then fell back to undergo a corrective adjustment. The morning support and resistance levels were well aligned with the live chart, and the timing judgment for the post-rise pullback and repair proved accurate.
Technical analysis: The 30-minute and 1-hour Bollinger Bands’ upper bands have started to tighten. The gold price has retraced toward the vicinity of the Bollinger middle band; short-term bullish momentum is weakening and the market has entered a pullback and digestion phase. The broader bullish trend remains intact and has not been broken.
Key levels: Resistance is at 4510 and 4527. Support is at 4477 and 4467.
Keke’s suggestion: During the midday, continue to follow the trend, focusing mainly on going long on dips. Buy in the 4465–4480 area on pullbacks, with targets at 4505 and 4525. After a sharp rise, a pullback is normal for correction—don’t blindly turn bearish. Keep position size light and place a strict stop-loss.
Disclaimer: The above is only my personal opinion and does not constitute investment advice. #黄金
As anticipated in the morning, the price action of a high-level range consolidation and repair was fully realized. After the gold price surged and topped, it then fell back to undergo a corrective adjustment. The morning support and resistance levels were well aligned with the live chart, and the timing judgment for the post-rise pullback and repair proved accurate.
Technical analysis: The 30-minute and 1-hour Bollinger Bands’ upper bands have started to tighten. The gold price has retraced toward the vicinity of the Bollinger middle band; short-term bullish momentum is weakening and the market has entered a pullback and digestion phase. The broader bullish trend remains intact and has not been broken.
Key levels: Resistance is at 4510 and 4527. Support is at 4477 and 4467.
Keke’s suggestion: During the midday, continue to follow the trend, focusing mainly on going long on dips. Buy in the 4465–4480 area on pullbacks, with targets at 4505 and 4525. After a sharp rise, a pullback is normal for correction—don’t blindly turn bearish. Keep position size light and place a strict stop-loss.
Disclaimer: The above is only my personal opinion and does not constitute investment advice. #黄金