9, 7 Morning Market Analysis Strategy:
Gold opened lower in the morning and then rebounded after testing the bottom, with the current price at 4432.52. On the one-hour timeframe, the short-term moving averages are intertwined; the 5-day and 10-day moving averages have turned upward, while the 20-day moving average is pressing down on price, indicating a corrective consolidation pattern after a sharp decline. The short-term resistance above is 4444-4448, which is the pressure zone of the 20-day moving average; the first support below is 4427, and the key defensive support is 4417. If support is broken, the pullback trend may continue again.
After the sharp decline, the bullish rebound has not been very strong overall. The market is mainly in a range-bound recovery, with no clear one-way trend. Trading is not suitable for chasing highs or selling lows; prioritize range trading and focus on effective breakouts of support and resistance.
Suggestion
Build positions in the 4408-4427 range, with multiple targets looking at 4444-4450$XAU #黄金
Gold opened lower in the morning and then rebounded after testing the bottom, with the current price at 4432.52. On the one-hour timeframe, the short-term moving averages are intertwined; the 5-day and 10-day moving averages have turned upward, while the 20-day moving average is pressing down on price, indicating a corrective consolidation pattern after a sharp decline. The short-term resistance above is 4444-4448, which is the pressure zone of the 20-day moving average; the first support below is 4427, and the key defensive support is 4417. If support is broken, the pullback trend may continue again.
After the sharp decline, the bullish rebound has not been very strong overall. The market is mainly in a range-bound recovery, with no clear one-way trend. Trading is not suitable for chasing highs or selling lows; prioritize range trading and focus on effective breakouts of support and resistance.
Suggestion
Build positions in the 4408-4427 range, with multiple targets looking at 4444-4450$XAU #黄金
