On August 24, it was pointed out that the upward move in XAU from 3959 was about to end (shown in the red segment), and in the video analysis on August 30, a pullback target level of 4268 was provided. Afterwards, gold fell from 4697 to 4282, a drop of 8.71%, with an error of only 0.003%✅
On September 2, it was said that it had not broken below our observation point of 4268; the decline likely ended at 4282. From 4282 onward, the move is at least a rebound targeting the drop from 4697 to 4282, or even an upswing at a level comparable to 3942–4203. Currently, gold’s rise has reached 5.34%✅ What to look at next?
If it can stay above 4423, then the rise from 4282 still has momentum. The next resistance zone is at 4537–4530. If price can break through this resistance area, that would indicate strong performance, and there may be further highs later (red route);
If it cannot break 4537–4530 or if it falls below 4223, then the rise from 4282 ends, and the subsequent move would be a pullback against it. If the pullback finds its endpoint above 4330, then there could be another upswing of the same level. Under this path, the move from 4282 is a rebound rather than a new uptrend (blue route). If it breaks below 4330, be cautious that 4282–4510 could represent the entire rebound. #xau $XAU
On September 2, it was said that it had not broken below our observation point of 4268; the decline likely ended at 4282. From 4282 onward, the move is at least a rebound targeting the drop from 4697 to 4282, or even an upswing at a level comparable to 3942–4203. Currently, gold’s rise has reached 5.34%✅ What to look at next?
If it can stay above 4423, then the rise from 4282 still has momentum. The next resistance zone is at 4537–4530. If price can break through this resistance area, that would indicate strong performance, and there may be further highs later (red route);
If it cannot break 4537–4530 or if it falls below 4223, then the rise from 4282 ends, and the subsequent move would be a pullback against it. If the pullback finds its endpoint above 4330, then there could be another upswing of the same level. Under this path, the move from 4282 is a rebound rather than a new uptrend (blue route). If it breaks below 4330, be cautious that 4282–4510 could represent the entire rebound. #xau $XAU
