9.9 Gold Morning Strategy
Market Analysis
During the early hours, the gold price continued to fluctuate and move lower, dipping to around 4341 before showing a slight rebound from the bottom. At present, the price is repairing above the lower band of the Bollinger Bands. On the 5-minute chart, the MACD forms a golden cross at a low level, and the green histogram bars shrink quickly. In the short term, there is a demand for a rebound and correction. However, the Bollinger Band channel still slopes downward, and the overall downtrend has not been reversed. The rebound is merely a weak pullback, so it is not suitable to blindly chase long positions.
Fundamentals
Market expectations that the Federal Reserve will maintain high interest rates have warmed up again. Several officials have continued to issue hawkish remarks, and the U.S. dollar remains firm. Although local geopolitical frictions are still reported from time to time, they are not enough to offset the pressure from the macro environment. As a result, gold lacks strong upward momentum.
Trading Recommendations
On rallies, place short orders in the 4355–4365 range.
First target: 4345
Second target: 4330
$XAU #黄金
Market Analysis
During the early hours, the gold price continued to fluctuate and move lower, dipping to around 4341 before showing a slight rebound from the bottom. At present, the price is repairing above the lower band of the Bollinger Bands. On the 5-minute chart, the MACD forms a golden cross at a low level, and the green histogram bars shrink quickly. In the short term, there is a demand for a rebound and correction. However, the Bollinger Band channel still slopes downward, and the overall downtrend has not been reversed. The rebound is merely a weak pullback, so it is not suitable to blindly chase long positions.
Fundamentals
Market expectations that the Federal Reserve will maintain high interest rates have warmed up again. Several officials have continued to issue hawkish remarks, and the U.S. dollar remains firm. Although local geopolitical frictions are still reported from time to time, they are not enough to offset the pressure from the macro environment. As a result, gold lacks strong upward momentum.
Trading Recommendations
On rallies, place short orders in the 4355–4365 range.
First target: 4345
Second target: 4330
$XAU #黄金
