9, 16 Evening Market Outlook Analysis Strategy
During the day, the gold price has continued rising from the low 4275.51. On the hourly timeframe, the moving averages are in a bullish alignment. The 5/10/20-day moving averages are moving upward in sync. Price is supported by the moving averages and keeps climbing, making the short-term uptrend clear.
The strong near-term resistance above is 4353.58, the intraday high. If there is a valid breakout, the upside room will open further. The first support below is 4338 (the 5-day moving average). The core defensive support is 4311 (the 20-day moving average). As long as price does not break below this support, this bullish structure remains intact.
After a sustained rally, a considerable amount of bullish profit-taking has accumulated in the range. In the evening, be cautious about potential profit-taking and pullbacks after the spike. Pay close attention to volatility driven by incoming data.
Recommendations
Go long from the 4338-4320 range. Targets: first look for a break above 4355-4380, then continue to look higher toward $XAU #黄金
During the day, the gold price has continued rising from the low 4275.51. On the hourly timeframe, the moving averages are in a bullish alignment. The 5/10/20-day moving averages are moving upward in sync. Price is supported by the moving averages and keeps climbing, making the short-term uptrend clear.
The strong near-term resistance above is 4353.58, the intraday high. If there is a valid breakout, the upside room will open further. The first support below is 4338 (the 5-day moving average). The core defensive support is 4311 (the 20-day moving average). As long as price does not break below this support, this bullish structure remains intact.
After a sustained rally, a considerable amount of bullish profit-taking has accumulated in the range. In the evening, be cautious about potential profit-taking and pullbacks after the spike. Pay close attention to volatility driven by incoming data.
Recommendations
Go long from the 4338-4320 range. Targets: first look for a break above 4355-4380, then continue to look higher toward $XAU #黄金
