Gold Midday Express: 4626 Holds High-Level Stagnation—Reversal Pullback or Strong Breakout in the Afternoon?
Spot gold is at 4626.69. The intraday range has already exceeded 46 points (high 4643.07, low 4596.50). Currently, price is trading right along the 4-hour Bollinger middle band (4624.75). The upper band is capping at 4643.58, while the lower band support sits at 4605.91—this is a typical late-stage convergence, with a breakout coming soon.
Midday key direction: prioritize selling rallies from the 4635–4640 resistance zone. Short with targets at 4615–4606, and if it breaks further, look for 4593.
The only prerequisite: if before the European session price holds above 4645, then abandon the short position; otherwise, stay committed to the shorting idea (below 4640, only look for pullbacks—not chase longs)$XAU
Spot gold is at 4626.69. The intraday range has already exceeded 46 points (high 4643.07, low 4596.50). Currently, price is trading right along the 4-hour Bollinger middle band (4624.75). The upper band is capping at 4643.58, while the lower band support sits at 4605.91—this is a typical late-stage convergence, with a breakout coming soon.
Midday key direction: prioritize selling rallies from the 4635–4640 resistance zone. Short with targets at 4615–4606, and if it breaks further, look for 4593.
The only prerequisite: if before the European session price holds above 4645, then abandon the short position; otherwise, stay committed to the shorting idea (below 4640, only look for pullbacks—not chase longs)$XAU
