9.9 Gold Midday Strategy
Market Analysis
During the day, the gold price staged a round of strong rebound. After steadily rising from a low level, it encountered resistance around 4406, and is currently making minor fluctuations below the upper band of the Bollinger Bands. The 5-minute MACD red histogram bars are gradually shrinking, indicating that upward momentum is slowing down. In the short term, there is a need for a pullback. Although bulls have the upper hand in the near term, it is not advisable to chase higher prices at elevated levels. Wait for signs of resistance, then consider setting up a short position.
Fundamentals
There are signs that conflicts in the Middle East may be escalating. Risk-aversion sentiment is quickly heating up, and large amounts of capital are flowing into gold as a safe haven, driving a significant rebound in gold prices. However, the market has not given up on watching the Federal Reserve’s policy. Hawkish expectations have not been fully extinguished, and the upside remains somewhat constrained. Price action is more inclined toward consolidation following a surge-style rise.
Trading Suggestions
Set up short positions in the rebound range of 4405–4415
First target: 4390
Second target: 4375
#黄金 $XAU
Market Analysis
During the day, the gold price staged a round of strong rebound. After steadily rising from a low level, it encountered resistance around 4406, and is currently making minor fluctuations below the upper band of the Bollinger Bands. The 5-minute MACD red histogram bars are gradually shrinking, indicating that upward momentum is slowing down. In the short term, there is a need for a pullback. Although bulls have the upper hand in the near term, it is not advisable to chase higher prices at elevated levels. Wait for signs of resistance, then consider setting up a short position.
Fundamentals
There are signs that conflicts in the Middle East may be escalating. Risk-aversion sentiment is quickly heating up, and large amounts of capital are flowing into gold as a safe haven, driving a significant rebound in gold prices. However, the market has not given up on watching the Federal Reserve’s policy. Hawkish expectations have not been fully extinguished, and the upside remains somewhat constrained. Price action is more inclined toward consolidation following a surge-style rise.
Trading Suggestions
Set up short positions in the rebound range of 4405–4415
First target: 4390
Second target: 4375
#黄金 $XAU
