8.24 Gold Midday Analysis
Gold prices continue to show strong upside momentum, repeatedly lifting their highs. The broader uptrend on the larger timeframes remains intact, with price holding above moving averages across all cycles. After continuous rallies, however, indicators have entered the overbought zone, so a short-term pullback/repair correction is needed. This is not a trend reversal; any retracement is more likely to be a consolidation washout while the uptrend is still ongoing.
4-hour timeframe: The candlesticks have continued to surge higher. The Bollinger Bands have expanded upward, and the KDJ has turned down from the high level, indicating a need to digest some profit-taking.
Near-term resistance above: 4630-4650, with strong resistance at 4680-4700;
First support below: 4570-4590. This is the watershed for strength/weakness between bulls and bears at 4500-4520. As long as this level is not broken effectively to the downside, the larger bullish structure remains intact.
1-hour timeframe: After the spike higher, the indicators show divergence, and upward momentum has started to weaken. Price action has entered a high-range consolidation and battle. The upper Bollinger Band is under pressure; watch the middle band closely to see how well it is supported during the pullback. Holding support keeps the conditions for another push higher. If support is continuously lost, it will trigger a phase of pullback.
ViVi’s Monday Midday Plan
Kun: Look at the 4660-4680 zone; targets near 4615-4590
Duo: Look at the 4620-4600 zone; targets near 4665-4690
#比特币创2023年3月来最强周涨幅
#BPI吁FinCEN扩大稳定币身份识别至二级市场
$ETH $XAU
Gold prices continue to show strong upside momentum, repeatedly lifting their highs. The broader uptrend on the larger timeframes remains intact, with price holding above moving averages across all cycles. After continuous rallies, however, indicators have entered the overbought zone, so a short-term pullback/repair correction is needed. This is not a trend reversal; any retracement is more likely to be a consolidation washout while the uptrend is still ongoing.
4-hour timeframe: The candlesticks have continued to surge higher. The Bollinger Bands have expanded upward, and the KDJ has turned down from the high level, indicating a need to digest some profit-taking.
Near-term resistance above: 4630-4650, with strong resistance at 4680-4700;
First support below: 4570-4590. This is the watershed for strength/weakness between bulls and bears at 4500-4520. As long as this level is not broken effectively to the downside, the larger bullish structure remains intact.
1-hour timeframe: After the spike higher, the indicators show divergence, and upward momentum has started to weaken. Price action has entered a high-range consolidation and battle. The upper Bollinger Band is under pressure; watch the middle band closely to see how well it is supported during the pullback. Holding support keeps the conditions for another push higher. If support is continuously lost, it will trigger a phase of pullback.
ViVi’s Monday Midday Plan
Kun: Look at the 4660-4680 zone; targets near 4615-4590
Duo: Look at the 4620-4600 zone; targets near 4665-4690
#比特币创2023年3月来最强周涨幅
#BPI吁FinCEN扩大稳定币身份识别至二级市场
$ETH $XAU
