9.16 Chen Jie Midday Analysis
At night, the U.S. August retail sales figure will be released (forecast 0.8% MoM). In the early hours the next day, a major Federal Reserve policy announcement will follow. ETF holdings shifted toward net inflows of +2.85 tons, and official reserves remained at +20.22 tons to provide support. During the midday session, price rebounded rapidly from the morning low of 4275, surged to a peak of 4341, then slipped back into the low 432x area; it is currently trading around 4327. Ahead of major events, the main tone in the pre-event market is rapid upside probing to digest buy orders, followed by broad-range consolidation under pressure at high levels.
On the 1-hour Bollinger upper band at 4332, the midday rebound peak at 4341 and the prior high platform 4345–4355 form a heavy resistance zone.
On the 4-hour Bollinger middle band at 4317, and the 1-hour Bollinger middle band at 4298; the rising breakout neck line from the morning rally at 4295–4305 has strong holding-through momentum.
Trading Strategy
Place orders near 4340–4350 to go short, targeting 4310–4280–4250, with defense at 4362.
Place orders near 4295–4305 to go long, targeting 4335–4365–4395, with defense at 4283#xau $XAU
At night, the U.S. August retail sales figure will be released (forecast 0.8% MoM). In the early hours the next day, a major Federal Reserve policy announcement will follow. ETF holdings shifted toward net inflows of +2.85 tons, and official reserves remained at +20.22 tons to provide support. During the midday session, price rebounded rapidly from the morning low of 4275, surged to a peak of 4341, then slipped back into the low 432x area; it is currently trading around 4327. Ahead of major events, the main tone in the pre-event market is rapid upside probing to digest buy orders, followed by broad-range consolidation under pressure at high levels.
On the 1-hour Bollinger upper band at 4332, the midday rebound peak at 4341 and the prior high platform 4345–4355 form a heavy resistance zone.
On the 4-hour Bollinger middle band at 4317, and the 1-hour Bollinger middle band at 4298; the rising breakout neck line from the morning rally at 4295–4305 has strong holding-through momentum.
Trading Strategy
Place orders near 4340–4350 to go short, targeting 4310–4280–4250, with defense at 4362.
Place orders near 4295–4305 to go long, targeting 4335–4365–4395, with defense at 4283#xau $XAU
