$XAU pulled back from the recent high by nearly 3%. Trading volume has been put at 550,000 lots. That’s not a small amount for the gold benchmark. In the short term, there seems to be support around 4335, but that long upper-wick candle near 4465 is definitely not something to ignore.
To put it simply, this pullback looks more like profit-taking and money exiting, not a trend reversal. The safe-haven logic for gold is still intact, and the Fed hasn’t sent any hawkish signals either. Looking at on-chain data, big holders haven’t really moved much; it’s mainly retail investors who are cutting positions in panic.
I’ve experienced the kind of liquidity crisis like March 2020, and I’ve also seen gold in 2022 drop from 2070 straight down to 1680. At this level right now, it’s neither panic nor greed—just a normal “washout” type of trading rhythm. Don’t let a single bearish candle set the tone; what matters is whether it can hold above the 4300 area on a weekly timeframe.
What do you think about this level—should we keep holding, or step aside for now?
$XAU #行情分析 #On-chain data
To put it simply, this pullback looks more like profit-taking and money exiting, not a trend reversal. The safe-haven logic for gold is still intact, and the Fed hasn’t sent any hawkish signals either. Looking at on-chain data, big holders haven’t really moved much; it’s mainly retail investors who are cutting positions in panic.
I’ve experienced the kind of liquidity crisis like March 2020, and I’ve also seen gold in 2022 drop from 2070 straight down to 1680. At this level right now, it’s neither panic nor greed—just a normal “washout” type of trading rhythm. Don’t let a single bearish candle set the tone; what matters is whether it can hold above the 4300 area on a weekly timeframe.
What do you think about this level—should we keep holding, or step aside for now?
$XAU #行情分析 #On-chain data