9.16 Spot gold (XAU/USD) morning outlook
On the 30-minute timeframe, the reversal is not confirmed by an upward BOS. The 4290-4300 cloud band has transformed into strong resistance, and 4275 is the current key life-line support.
The 15-minute rebound structure has failed. Indicators at oversold levels may trigger a short-term rebound pullback to shake out positions, but it will not change the bearish dominance.
The repair phase within the downtrend has ended. Priority should be placed on trading a rebound that is pressured and moves downward; do not expect a reversal.
Recommendation: Short at 4290-4305 zone, targets 4275, 4250, and 4225. $XAU
On the 30-minute timeframe, the reversal is not confirmed by an upward BOS. The 4290-4300 cloud band has transformed into strong resistance, and 4275 is the current key life-line support.
The 15-minute rebound structure has failed. Indicators at oversold levels may trigger a short-term rebound pullback to shake out positions, but it will not change the bearish dominance.
The repair phase within the downtrend has ended. Priority should be placed on trading a rebound that is pressured and moves downward; do not expect a reversal.
Recommendation: Short at 4290-4305 zone, targets 4275, 4250, and 4225. $XAU
