9.8 Gold Morning Analysis
Gold yesterday saw an overall choppy range-bound走势. Today, continue to focus on the ongoing consolidation, and wait for the price to break out and choose a direction.
On the 4-hour timeframe, price has pulled back below the short-term moving averages. The Bollinger Bands are gradually narrowing, and the tug-of-war between bulls and bears is escalating. The market is now at a critical node for directional selection.
Bearish (range) bias
If price rebounds into the 4430-4440 resistance zone and shows signs of sluggish/failed recovery, you can cautiously try shorting with small position sizing. Downside targets are 4380, then 4350. For risk control, set the stop-loss above 4445.
If price pulls back to 4380, wait for confirmation of a stabilization/turning signal on the chart, then consider a short-term long. Targets are 4400, then 4420
$XAU #
Gold yesterday saw an overall choppy range-bound走势. Today, continue to focus on the ongoing consolidation, and wait for the price to break out and choose a direction.
On the 4-hour timeframe, price has pulled back below the short-term moving averages. The Bollinger Bands are gradually narrowing, and the tug-of-war between bulls and bears is escalating. The market is now at a critical node for directional selection.
Bearish (range) bias
If price rebounds into the 4430-4440 resistance zone and shows signs of sluggish/failed recovery, you can cautiously try shorting with small position sizing. Downside targets are 4380, then 4350. For risk control, set the stop-loss above 4445.
If price pulls back to 4380, wait for confirmation of a stabilization/turning signal on the chart, then consider a short-term long. Targets are 4400, then 4420
$XAU #