9.16 Gold Evening Outlook:
In the Asian session, gold continues its rebound. After pushing up to 4350, it faced resistance and pulled back, with the market entering a narrow-range consolidation as bulls and bears remain locked in a stalemate.
After the quick surge, the chart appears to have a technical pullback requirement. At the current level, chasing the rally is not recommended. With recent volatility increasing, the risk of chasing orders at high levels is relatively high. Wait patiently for a pullback opportunity, and put risk control first.
We’ll wait for tonight’s major data to break the range. Key support to watch is the 4300 level below.
Trading reference:
Sell on resistance at 4360-4370, aiming lower to 4300-4280. Defense level: 4380
#XAU
In the Asian session, gold continues its rebound. After pushing up to 4350, it faced resistance and pulled back, with the market entering a narrow-range consolidation as bulls and bears remain locked in a stalemate.
After the quick surge, the chart appears to have a technical pullback requirement. At the current level, chasing the rally is not recommended. With recent volatility increasing, the risk of chasing orders at high levels is relatively high. Wait patiently for a pullback opportunity, and put risk control first.
We’ll wait for tonight’s major data to break the range. Key support to watch is the 4300 level below.
Trading reference:
Sell on resistance at 4360-4370, aiming lower to 4300-4280. Defense level: 4380
#XAU