Gold Intraday Thinking (9/9):
(These daily thoughts are only personal chart-keeping and analysis records and do not constitute copy-trading guidance. Trading involves risk—please consider risk first!)
Yesterday’s gold still followed the bearish direction.
This drop has given 4300 some hope.
From a daily perspective, what’s being shown is a structure that points to further probing today.
The current area around 4375 is a good spot to bet on the short, because the resistance at 4380 is also very close.
As for whether price can reach 4300 below,
based on the experience from the past two days, it may not be easy to drop there in one go.
The market is too choppy—so we need to respect every support level.
The current supports below are 4342, 4332, 4325, 4312, and 4302.
Before 4325, it might go relatively smoothly; below that, things should get more complicated.
Because there’s a possibility of a bottom being formed today.
In other words, today may produce the lows for the next few days,
meaning any support within the 4300–4325 range could become the starting point for a rebound.
Of course, if the market turns extremely weak and breaks below 4300,
then 4282 mentioned earlier will no longer be the bottom—the bottom will continue to be found around 4260.$XAU
(These daily thoughts are only personal chart-keeping and analysis records and do not constitute copy-trading guidance. Trading involves risk—please consider risk first!)
Yesterday’s gold still followed the bearish direction.
This drop has given 4300 some hope.
From a daily perspective, what’s being shown is a structure that points to further probing today.
The current area around 4375 is a good spot to bet on the short, because the resistance at 4380 is also very close.
As for whether price can reach 4300 below,
based on the experience from the past two days, it may not be easy to drop there in one go.
The market is too choppy—so we need to respect every support level.
The current supports below are 4342, 4332, 4325, 4312, and 4302.
Before 4325, it might go relatively smoothly; below that, things should get more complicated.
Because there’s a possibility of a bottom being formed today.
In other words, today may produce the lows for the next few days,
meaning any support within the 4300–4325 range could become the starting point for a rebound.
Of course, if the market turns extremely weak and breaks below 4300,
then 4282 mentioned earlier will no longer be the bottom—the bottom will continue to be found around 4260.$XAU