8.28 gold | Morning Market Breakdown
The price of gold surged again, and the deep pullback that many people expected did not arrive as scheduled. After the price retraced to the 4565 support level, it reversed upward directly.
Looking back at the daily chart timeframe: after the previous close broke below the 4600 mark, there were signs that the pullback might continue. However, the downside momentum was insufficient. Before the market could move into the expected depth of correction, it bottomed out and rebounded, regaining a position above 4600. The signals in the chart have changed—bullish momentum has taken back the lead, and market sentiment has been fully released.
This pullback is merely a shakeout adjustment within a larger bullish trend. For intraday trading, follow the bigger direction: wait for a retracement opportunity, and prioritize going long on dips.
Trading reference:
Go long at 4570–4585 on a pullback. Targets: 4610–4625. Stop-loss/defense: 4540–4560.
#黄金
The price of gold surged again, and the deep pullback that many people expected did not arrive as scheduled. After the price retraced to the 4565 support level, it reversed upward directly.
Looking back at the daily chart timeframe: after the previous close broke below the 4600 mark, there were signs that the pullback might continue. However, the downside momentum was insufficient. Before the market could move into the expected depth of correction, it bottomed out and rebounded, regaining a position above 4600. The signals in the chart have changed—bullish momentum has taken back the lead, and market sentiment has been fully released.
This pullback is merely a shakeout adjustment within a larger bullish trend. For intraday trading, follow the bigger direction: wait for a retracement opportunity, and prioritize going long on dips.
Trading reference:
Go long at 4570–4585 on a pullback. Targets: 4610–4625. Stop-loss/defense: 4540–4560.
#黄金
