9.8 Gold Morning Outlook:
Gold prices are under pressure at high levels, and bullish momentum continues to weaken. High U.S. Treasury yields and a stabilizing/strengthening U.S. dollar are exerting downward pressure.
On the 4-hour timeframe, price has already fallen below the short-term moving averages. The Bollinger Bands are gradually narrowing, and the tug-of-war between bulls and bears is becoming increasingly intense.
At this stage, any rebound is only a technical corrective move, not a reversal into an uptrend—avoid chasing long positions.
In this kind of ranging market, prioritize looking for a drop after rebounds face resistance.
Trading suggestion:
Short on the rebound around 4435-4445, target 4390-4360, with resistance/stop-loss at 4455
#XAU
Gold prices are under pressure at high levels, and bullish momentum continues to weaken. High U.S. Treasury yields and a stabilizing/strengthening U.S. dollar are exerting downward pressure.
On the 4-hour timeframe, price has already fallen below the short-term moving averages. The Bollinger Bands are gradually narrowing, and the tug-of-war between bulls and bears is becoming increasingly intense.
At this stage, any rebound is only a technical corrective move, not a reversal into an uptrend—avoid chasing long positions.
In this kind of ranging market, prioritize looking for a drop after rebounds face resistance.
Trading suggestion:
Short on the rebound around 4435-4445, target 4390-4360, with resistance/stop-loss at 4455
#XAU