9.8 Gold Evening Review:
On the 10-minute cycle, spot gold saw an intraday pattern of rallying to a high and then falling back, followed by a dip-fixing move. After testing the 4443 high early in the session, the price quickly dropped. During the day, the low touched 4387, a temporary low point. Afterwards, buy-side support stepped in, helping the price stabilize and rebound as it traded with choppy upward recovery. Currently, it is trading around 4397. In the short term, bearish momentum has been somewhat released, and both bulls and bears are now locked in a tug-of-war.
From a technical perspective, on the 10-minute timeframe the price has rebounded back toward the vicinity of short-term moving averages. The Bollinger Bands are showing a gradually narrowing opening. The main overhead resistance zone is concentrated around 4421–4443. On the downside, initial support is expected in the 4387–4379 area. If price holds above 4420, there is a chance for the short-term uptrend to resume. If 4387 is lost, further downside room would open up.
Trading suggestion: If price retraces into the 4370–4390 range, consider building long positions in batches. Upside targets to watch are 4420 first, followed by 4450.
#黄金 $BTC $ETH
On the 10-minute cycle, spot gold saw an intraday pattern of rallying to a high and then falling back, followed by a dip-fixing move. After testing the 4443 high early in the session, the price quickly dropped. During the day, the low touched 4387, a temporary low point. Afterwards, buy-side support stepped in, helping the price stabilize and rebound as it traded with choppy upward recovery. Currently, it is trading around 4397. In the short term, bearish momentum has been somewhat released, and both bulls and bears are now locked in a tug-of-war.
From a technical perspective, on the 10-minute timeframe the price has rebounded back toward the vicinity of short-term moving averages. The Bollinger Bands are showing a gradually narrowing opening. The main overhead resistance zone is concentrated around 4421–4443. On the downside, initial support is expected in the 4387–4379 area. If price holds above 4420, there is a chance for the short-term uptrend to resume. If 4387 is lost, further downside room would open up.
Trading suggestion: If price retraces into the 4370–4390 range, consider building long positions in batches. Upside targets to watch are 4420 first, followed by 4450.
#黄金 $BTC $ETH
