9.11 Morning Peak Analysis
Overnight, gold was pressured and moved lower under the negative impact of the US PPI and initial jobless claims data. From the high of 4434, it fell to a low of 4313. Towards the close, the downside halted, and it is currently consolidating around 4318 at a low level.
On short-term cycles of 1 hour and 30 minutes, the MACD histogram remains green, indicating that the bearish side still holds the upper hand. At this stage, it is merely a temporary rebound/repair after a sharp drop, and there are no signals of a bullish reversal. Price action continues to see back-and-forth tug-of-war between bulls and bears, with relatively limited volatility.
As important data is approaching, the market is biased toward range-bound trading. It is not advisable to enter positions aggressively. Key resistance is at 4330–4350. In terms of strategy, priority is to sell on rallies: if price rebounds into 4330–4350 and faces resistance, consider placing short orders. Targets are 4300–4270–4240. As the market contest intensifies, be sure to strictly control position sizing and strengthen defenses. #美国8月PPI涨幅低于预期 $NVDAB #XAUUSD❤️
Overnight, gold was pressured and moved lower under the negative impact of the US PPI and initial jobless claims data. From the high of 4434, it fell to a low of 4313. Towards the close, the downside halted, and it is currently consolidating around 4318 at a low level.
On short-term cycles of 1 hour and 30 minutes, the MACD histogram remains green, indicating that the bearish side still holds the upper hand. At this stage, it is merely a temporary rebound/repair after a sharp drop, and there are no signals of a bullish reversal. Price action continues to see back-and-forth tug-of-war between bulls and bears, with relatively limited volatility.
As important data is approaching, the market is biased toward range-bound trading. It is not advisable to enter positions aggressively. Key resistance is at 4330–4350. In terms of strategy, priority is to sell on rallies: if price rebounds into 4330–4350 and faces resistance, consider placing short orders. Targets are 4300–4270–4240. As the market contest intensifies, be sure to strictly control position sizing and strengthen defenses. #美国8月PPI涨幅低于预期 $NVDAB #XAUUSD❤️
