9.15 Zheng Chen Morning Thoughts
Under the overnight market, after dipping and then breaking out from the low point in the middle of the night for repair, the same rebound-and-then-fall rhythm that had been expected—where the earlier bounce met resistance and pulled back—has been playing out as scheduled. Currently, the gold price is trading around 4289.
From a technical perspective: on the 1-hour chart, the Bollinger Bands have narrowed and flattened, and the price has held above the lower band. On the 30-minute chart, the bands have narrowed further; price is moving back and forth around the mid-band, indicating that the short-term is entering a consolidation and repair phase. However, the larger-cycle bearish structure has not changed. Any rebound is more of a corrective move.
Key short-term price levels:
Resistance above: 4303, 4320
Support below: 4270, 4255
Trading plan: Treat the morning as a consolidation-and-repair scenario—do not blindly chase longs. Overall, keep the strategy focused on short-selling rebounds. If price rebounds into the 4295–4315 zone and meets resistance, you may consider placing short orders. Targets: 4275 first, then 4255. Participate with light sizing throughout, and be sure to strictly set stop-loss levels to manage risk. #黄金
Under the overnight market, after dipping and then breaking out from the low point in the middle of the night for repair, the same rebound-and-then-fall rhythm that had been expected—where the earlier bounce met resistance and pulled back—has been playing out as scheduled. Currently, the gold price is trading around 4289.
From a technical perspective: on the 1-hour chart, the Bollinger Bands have narrowed and flattened, and the price has held above the lower band. On the 30-minute chart, the bands have narrowed further; price is moving back and forth around the mid-band, indicating that the short-term is entering a consolidation and repair phase. However, the larger-cycle bearish structure has not changed. Any rebound is more of a corrective move.
Key short-term price levels:
Resistance above: 4303, 4320
Support below: 4270, 4255
Trading plan: Treat the morning as a consolidation-and-repair scenario—do not blindly chase longs. Overall, keep the strategy focused on short-selling rebounds. If price rebounds into the 4295–4315 zone and meets resistance, you may consider placing short orders. Targets: 4275 first, then 4255. Participate with light sizing throughout, and be sure to strictly set stop-loss levels to manage risk. #黄金
