8.26 Gold Trader’s Midday Report: 4673 Tops and Dives! Gold Bears Keep Crushing as Prices Fall
After a strong early-session rise that touched 4673, the market hit resistance and pulled back. The bulls’ push lacked follow-through, while bearish momentum gradually took over the market, driving prices into a choppy but downward trend and repeatedly setting new intraday lows.
On the 10-minute short-cycle timeframe, the pattern of consecutive bearish candles and downward movement is clearly established. The prior high at 4673 forms a strong near-term resistance zone, while the key support area below lies around 4624–4617. Short-term moving averages have turned downward, exerting pressure. The MACD histogram remains in green and continues to expand, and the KDJ indicator, already low, is dispersing downward. Current bearish momentum is in control.
On pullbacks, consider placing long positions in the 4600–4620 zone, with targets at 4650 and 4680.
$XAU $LAB #黄金
After a strong early-session rise that touched 4673, the market hit resistance and pulled back. The bulls’ push lacked follow-through, while bearish momentum gradually took over the market, driving prices into a choppy but downward trend and repeatedly setting new intraday lows.
On the 10-minute short-cycle timeframe, the pattern of consecutive bearish candles and downward movement is clearly established. The prior high at 4673 forms a strong near-term resistance zone, while the key support area below lies around 4624–4617. Short-term moving averages have turned downward, exerting pressure. The MACD histogram remains in green and continues to expand, and the KDJ indicator, already low, is dispersing downward. Current bearish momentum is in control.
On pullbacks, consider placing long positions in the 4600–4620 zone, with targets at 4650 and 4680.
$XAU $LAB #黄金
