8.26 Gold Morning Market Analysis
Overnight, gold prices surged higher but faced resistance. In the early hours, they remained in a range-bound consolidation, hovering above 4650 in the morning. The long-term uptrend on the larger timeframe remains intact. After consecutive big rallies, profit-taking has been consistently realized, and the price action has entered a high-range consolidation phase to digest gains. With major upcoming events approaching, market caution has increased; intraday volatility will likely swing back and forth, so it is not suitable to enter directly at mid-range prices. Shanghai gold is holding a high-range consolidation.
News: Rate-cut expectations, global central banks’ gold purchases, and ongoing geopolitical safe-haven demand continue to support gold prices. However, the dollar and U.S. Treasury yields keep fluctuating, suppressing short-term upside momentum. The market is waiting for remarks at the Jackson Hole annual symposium; subsequent comments are likely to trigger sharp back-and-forth volatility. Be prepared to respond to unexpected market spikes.
Technical: The daily chart’s bullish structure is intact. On the 4-hour and 1-hour timeframes, an overbought pullback has been completed. In the short term, focus on whether support holds effectively. If support breaks, the downside pullback room may expand.
Key Levels
Resistance: 4660–4670, 4700
Support: 4615, 4595
Trading References:
- If price retraces to 4615–4620 and stabilizes, consider long positions targeting 4655 and 4670; place a protective stop below 4595.
- If price rebounds and faces resistance in 4660–4670, consider selling/short bias with targets at 4630 and 4615; place a protective stop above 4685.
Take Note‼️ If 4595 is broken down effectively, pause the trend-following long idea.
#黄金
Overnight, gold prices surged higher but faced resistance. In the early hours, they remained in a range-bound consolidation, hovering above 4650 in the morning. The long-term uptrend on the larger timeframe remains intact. After consecutive big rallies, profit-taking has been consistently realized, and the price action has entered a high-range consolidation phase to digest gains. With major upcoming events approaching, market caution has increased; intraday volatility will likely swing back and forth, so it is not suitable to enter directly at mid-range prices. Shanghai gold is holding a high-range consolidation.
News: Rate-cut expectations, global central banks’ gold purchases, and ongoing geopolitical safe-haven demand continue to support gold prices. However, the dollar and U.S. Treasury yields keep fluctuating, suppressing short-term upside momentum. The market is waiting for remarks at the Jackson Hole annual symposium; subsequent comments are likely to trigger sharp back-and-forth volatility. Be prepared to respond to unexpected market spikes.
Technical: The daily chart’s bullish structure is intact. On the 4-hour and 1-hour timeframes, an overbought pullback has been completed. In the short term, focus on whether support holds effectively. If support breaks, the downside pullback room may expand.
Key Levels
Resistance: 4660–4670, 4700
Support: 4615, 4595
Trading References:
- If price retraces to 4615–4620 and stabilizes, consider long positions targeting 4655 and 4670; place a protective stop below 4595.
- If price rebounds and faces resistance in 4660–4670, consider selling/short bias with targets at 4630 and 4615; place a protective stop above 4685.
Take Note‼️ If 4595 is broken down effectively, pause the trend-following long idea.
#黄金
