9.7 Gold short-term weakness, with pullbacks mainly for shorting
Last week’s non-farm payrolls data was released, and gold experienced a wide-range whipsaw pattern of surging, testing the bottom, and rebounding. The weekly candlestick closed as a doji, indicating intensified tug-of-war between bulls and bears. The non-farm data only disturbed the short-term rhythm and did not produce a clear one-way trend.
From the 1-hour chart perspective, after the earlier surge, prices came under pressure and pulled back. Short-term rebound momentum is fading, and bearish forces are starting to gain the upper hand. At present, the market has not formed a one-way trend; it is in a consolidating pullback after the rise. The key is to wait for CPI inflation data to guide the next direction.
Trading suggestion: short at 4450-4460, stop loss above 4470, target first at 4380-4360
(Personal suggestion for reference only; real-time trading shall prevail) #XAU $XAU
Last week’s non-farm payrolls data was released, and gold experienced a wide-range whipsaw pattern of surging, testing the bottom, and rebounding. The weekly candlestick closed as a doji, indicating intensified tug-of-war between bulls and bears. The non-farm data only disturbed the short-term rhythm and did not produce a clear one-way trend.
From the 1-hour chart perspective, after the earlier surge, prices came under pressure and pulled back. Short-term rebound momentum is fading, and bearish forces are starting to gain the upper hand. At present, the market has not formed a one-way trend; it is in a consolidating pullback after the rise. The key is to wait for CPI inflation data to guide the next direction.
Trading suggestion: short at 4450-4460, stop loss above 4470, target first at 4380-4360
(Personal suggestion for reference only; real-time trading shall prevail) #XAU $XAU
