Today gold still maintains a sideways-then-consolidation approach. On the upside, focus on the 4680 and 4700 resistance zone. If price cannot break above today, then a technical pullback may take the lead, forcing the market to undergo a technical retracement. On the downside, continue to focus on the 5-day moving average. The 5-day MA has already risen to around 4615–4617, and the likelihood of a breakdown is increasing. If it breaks, then on the downside continue to watch the 4600 round-number level.
If tonight’s data is bearish for gold, it could also bring a larger-scale retracement. In that case, you can further look for a pullback toward the 10-day moving average around 4510–4500. #黄金
If tonight’s data is bearish for gold, it could also bring a larger-scale retracement. In that case, you can further look for a pullback toward the 10-day moving average around 4510–4500. #黄金
