8.27 Gold Midday Outlook:
In the early session, the gold price surged to 4643 but met resistance and pulled back, falling below the middle band of the Bollinger Bands.
The Bollinger channel has turned downward, indicating a bearish pattern.
Bearish MACD momentum continues to build, while buyers’ attempts to counter are weak.
The pullback after the high has not ended; for the near term, prioritize a short view on rebounds.
Trading suggestion:
Sell in the 4635-4645 range on rebounds, with targets at 4580-4560. Keep resistance at 4655.
#XAU
In the early session, the gold price surged to 4643 but met resistance and pulled back, falling below the middle band of the Bollinger Bands.
The Bollinger channel has turned downward, indicating a bearish pattern.
Bearish MACD momentum continues to build, while buyers’ attempts to counter are weak.
The pullback after the high has not ended; for the near term, prioritize a short view on rebounds.
Trading suggestion:
Sell in the 4635-4645 range on rebounds, with targets at 4580-4560. Keep resistance at 4655.
#XAU