#黄金
The recent trend has been incredibly frustrating.
This week, gold’s movement has basically been a narrow-range consolidation.
Tomorrow, the U.S. will release CPI data.
The market may only break into a clear direction around that time.
From the chart perspective:
Resistance: the 65-day moving average. Since it broke below 4520 on 8/28, it hasn’t managed to climb back above it.
Support: the 200-day moving average. On 9/2 and 9/9, price dropped to the 200-day moving average and then started rebounding from there.
Right now, the 4-hour timeframe is also about to reach a turning point.
The 65-day moving average is trending downward, while the 200-day moving average is trending upward.
A crossover point is about to form, and gold is shifting from wide-range volatility into a narrow-range trading range.
Short positions are still in place. If the 4-hour chart closes above 4443, considering a possible short-term reversal, I might cut the loss. If it’s only a case of an upper shadow touching the level, then it could be a false breakout, and I might consider it accordingly.
The recent trend has been incredibly frustrating.
This week, gold’s movement has basically been a narrow-range consolidation.
Tomorrow, the U.S. will release CPI data.
The market may only break into a clear direction around that time.
From the chart perspective:
Resistance: the 65-day moving average. Since it broke below 4520 on 8/28, it hasn’t managed to climb back above it.
Support: the 200-day moving average. On 9/2 and 9/9, price dropped to the 200-day moving average and then started rebounding from there.
Right now, the 4-hour timeframe is also about to reach a turning point.
The 65-day moving average is trending downward, while the 200-day moving average is trending upward.
A crossover point is about to form, and gold is shifting from wide-range volatility into a narrow-range trading range.
Short positions are still in place. If the 4-hour chart closes above 4443, considering a possible short-term reversal, I might cut the loss. If it’s only a case of an upper shadow touching the level, then it could be a false breakout, and I might consider it accordingly.
