Gold Early Session Analysis
In the early hours, the Fed’s decision was released, and gold saw a sharp drop!
From the 4366 peak, gold continued down, with the low touching 4235; the decline exceeded 100 points, fully giving back the earlier rebound.
On the four-hour level: Yesterday’s rebound was only a brief moment of bullishness. Pressure is clearly evident overhead; the rebound lacks continuation. The decision acted as a negative catalyst, triggering a deep pullback.
The broader downtrend remains unchanged. The current rebound is merely a pause during the decline, with limited upside room. For intraday trading, the bias is mainly for selling rallies.
Trading reference: Sell short around 4320/4340, targeting 4280 and 4220.#XAU $XAU
In the early hours, the Fed’s decision was released, and gold saw a sharp drop!
From the 4366 peak, gold continued down, with the low touching 4235; the decline exceeded 100 points, fully giving back the earlier rebound.
On the four-hour level: Yesterday’s rebound was only a brief moment of bullishness. Pressure is clearly evident overhead; the rebound lacks continuation. The decision acted as a negative catalyst, triggering a deep pullback.
The broader downtrend remains unchanged. The current rebound is merely a pause during the decline, with limited upside room. For intraday trading, the bias is mainly for selling rallies.
Trading reference: Sell short around 4320/4340, targeting 4280 and 4220.#XAU $XAU