Gold Night Session 8/28:
In the 1-hour Bollinger Bands, the bands are narrowing. There is resistance at the upper band around 4625, and support at the lower band around 4572. After the price bottomed out, it rebounded and rose, consolidating and ranging above the Bollinger middle band.
The RSI(6) has rebounded to 58.63. Bullish momentum has been repaired in the short term, but it has not yet entered overbought territory. In the short term, the market has shifted from weakness to ranging, and the struggle between bulls and bears has intensified. For the evening, the outlook remains bearish as the main bias.
Trading suggestions:
Go short from 4620–4610, target 4500–4450, and keep 4630 as the defense level.
(For reference only—follow the live order/market conditions!)
In the 1-hour Bollinger Bands, the bands are narrowing. There is resistance at the upper band around 4625, and support at the lower band around 4572. After the price bottomed out, it rebounded and rose, consolidating and ranging above the Bollinger middle band.
The RSI(6) has rebounded to 58.63. Bullish momentum has been repaired in the short term, but it has not yet entered overbought territory. In the short term, the market has shifted from weakness to ranging, and the struggle between bulls and bears has intensified. For the evening, the outlook remains bearish as the main bias.
Trading suggestions:
Go short from 4620–4610, target 4500–4450, and keep 4630 as the defense level.
(For reference only—follow the live order/market conditions!)
