8、21 evening market outlook analysis strategy
Gold surged again in the early session with strong bullish momentum. From the low at 4508.82, it rallied steadily upward, reaching a peak of 4604.53. The current price is 4597.58, with an intraday gain of nearly 79 USD. On the 1-hour timeframe, moving averages have spread sharply upward. Price has firmly held above the 5-, 10-, and 20-period moving averages. Bullish momentum has been fully released, and the trend is extremely strong.
Near-term resistance above: 4604–4610, the high point of this leg of the rally;
Near-term support below: 4570–4589, with key defensive support at 4546. If this level is broken, the strong upward momentum of this rally would likely end at least temporarily, shifting into a pullback and corrective phase.
With the market continuously making violent advances, bullish sentiment is highly excited. However, in the short term a large amount of profit has built up. It is not advisable to chase long positions aggressively; be cautious of profit-taking and a pullback after a quick spike.
Recommendations
Go short at 4600–4615, stop loss above 4616. Targets: 4550–4585. If support is reached and conditions are met, take profit in a timely manner. $XAU #黄金
Gold surged again in the early session with strong bullish momentum. From the low at 4508.82, it rallied steadily upward, reaching a peak of 4604.53. The current price is 4597.58, with an intraday gain of nearly 79 USD. On the 1-hour timeframe, moving averages have spread sharply upward. Price has firmly held above the 5-, 10-, and 20-period moving averages. Bullish momentum has been fully released, and the trend is extremely strong.
Near-term resistance above: 4604–4610, the high point of this leg of the rally;
Near-term support below: 4570–4589, with key defensive support at 4546. If this level is broken, the strong upward momentum of this rally would likely end at least temporarily, shifting into a pullback and corrective phase.
With the market continuously making violent advances, bullish sentiment is highly excited. However, in the short term a large amount of profit has built up. It is not advisable to chase long positions aggressively; be cautious of profit-taking and a pullback after a quick spike.
Recommendations
Go short at 4600–4615, stop loss above 4616. Targets: 4550–4585. If support is reached and conditions are met, take profit in a timely manner. $XAU #黄金