9.7 Gold Evening
Looking back at this round of price action, the gold price rebounded from the 4300 support earlier on, reaching a high of 4490. However, throughout this rebound, it has failed to break through the key downward trend resistance, and no reversal structure has formed. As the market’s swing high continues to trend lower, bullish rebounds have lost momentum, and in the short term the price action has once again returned to a weak, downward consolidation pattern.
From a technical perspective, the gold price has now lost all the short-term moving average system support and is trading below the moving averages under pressure. The 4413–4445 range has formed a strong multi-layer resistance zone. In particular, the 4440 level adds confluence with the short-term moving averages and a structural double-top type of pressure, making it the key resistance that bulls find difficult to break. Overall, the prior rise was merely a technical correction within the downward trend, not a signal of trend reversal. The larger bearish structure has not changed.
In terms of support and resistance: in the short term, focus first on support at 4378–4380. If this support is effectively broken, the bears will push further down to the 4340 low area. For resistance in the European session, the first short-term resistance is concentrated at 4400–4415. The day’s core strong resistance is locked in the 4435–4445 zone.
Gold trading suggestions
4405-4420, sell, target 4375-4350
#美伊互袭油轮冲突升级 #IMF称萨尔瓦多购币未用公共资金 $XAU #XAGUSDT社区热度不低
Looking back at this round of price action, the gold price rebounded from the 4300 support earlier on, reaching a high of 4490. However, throughout this rebound, it has failed to break through the key downward trend resistance, and no reversal structure has formed. As the market’s swing high continues to trend lower, bullish rebounds have lost momentum, and in the short term the price action has once again returned to a weak, downward consolidation pattern.
From a technical perspective, the gold price has now lost all the short-term moving average system support and is trading below the moving averages under pressure. The 4413–4445 range has formed a strong multi-layer resistance zone. In particular, the 4440 level adds confluence with the short-term moving averages and a structural double-top type of pressure, making it the key resistance that bulls find difficult to break. Overall, the prior rise was merely a technical correction within the downward trend, not a signal of trend reversal. The larger bearish structure has not changed.
In terms of support and resistance: in the short term, focus first on support at 4378–4380. If this support is effectively broken, the bears will push further down to the 4340 low area. For resistance in the European session, the first short-term resistance is concentrated at 4400–4415. The day’s core strong resistance is locked in the 4435–4445 zone.
Gold trading suggestions
4405-4420, sell, target 4375-4350
#美伊互袭油轮冲突升级 #IMF称萨尔瓦多购币未用公共资金 $XAU #XAGUSDT社区热度不低