8.26 Gold Afternoon Outlook:
In the early session, gold prices surged upward to test the high area, but the momentum of the bulls began to weaken, and the price came under pressure and pulled back for consolidation. In the short term, it’s repeated back-and-forth choppy trading, and the battle between bulls and bears is becoming more intense.
Looking at the 1-hour candlestick structure, 4630 is short-term support and also the low from this morning. If this support holds, the market still has a chance to push higher again and test the 4696 high. If price breaks down below 4630 decisively, the short-term trend will continue to search for deeper support.
Resistance is in the 4670–4696 zone, where price has repeatedly surged higher and met rejection. Without a breakout on increased volume, do not chase longs directly from the high area. In a range-bound market, don’t rush—wait for signals from key levels before acting, and remember to set a stop loss.
Trading ideas:
On the rebound, sell/short at 4655–4665 after it faces resistance, targeting 4600–4580, with protection at 4675.
If there’s a pullback to around 4600 and it stabilizes, you can buy/long, targeting 4650–4680, with protection at 4590.
#XAU
In the early session, gold prices surged upward to test the high area, but the momentum of the bulls began to weaken, and the price came under pressure and pulled back for consolidation. In the short term, it’s repeated back-and-forth choppy trading, and the battle between bulls and bears is becoming more intense.
Looking at the 1-hour candlestick structure, 4630 is short-term support and also the low from this morning. If this support holds, the market still has a chance to push higher again and test the 4696 high. If price breaks down below 4630 decisively, the short-term trend will continue to search for deeper support.
Resistance is in the 4670–4696 zone, where price has repeatedly surged higher and met rejection. Without a breakout on increased volume, do not chase longs directly from the high area. In a range-bound market, don’t rush—wait for signals from key levels before acting, and remember to set a stop loss.
Trading ideas:
On the rebound, sell/short at 4655–4665 after it faces resistance, targeting 4600–4580, with protection at 4675.
If there’s a pullback to around 4600 and it stabilizes, you can buy/long, targeting 4650–4680, with protection at 4590.
#XAU