9, 18 Morning Market Outlook: Analysis of Strategy
In the morning, price is operating in a slight range-bound fluctuation. On the 1-hour timeframe, after the gold price surged and then pulled back in the earlier period, it is now entering a period of sideways consolidation, supported by the moving averages. The 5-day moving average is 4345.95, the 10-day moving average is 4354.44, and the 20-day moving average is 4337.28. Price is trading close to the 5-day moving average, moving sideways. The MACD indicator’s two lines are sticking together, meaning short-term bulls and bears are in a tug-of-war, suggesting a continuation consolidation pattern after an upward move.
Resistance to the upside (short-term): 4349.44, the intraday high; the stronger pressure level is 4381.86, the previous high.
Support to the downside: first support at 4337 (the 20-day moving average). The key defensive support is around 4326. If price breaks below this level, the rebound rhythm of this move will be interrupted.
Currently, price is consolidating at higher levels with no clear one-way direction. The focus should be on a breakout from the range. Until a level is broken, range trading is preferred.
Recommendation
Go long in the 4310–4332 range. Targets: first look at 4349; after a breakout, watch for a move above 4381.
#黄金 $XAU
In the morning, price is operating in a slight range-bound fluctuation. On the 1-hour timeframe, after the gold price surged and then pulled back in the earlier period, it is now entering a period of sideways consolidation, supported by the moving averages. The 5-day moving average is 4345.95, the 10-day moving average is 4354.44, and the 20-day moving average is 4337.28. Price is trading close to the 5-day moving average, moving sideways. The MACD indicator’s two lines are sticking together, meaning short-term bulls and bears are in a tug-of-war, suggesting a continuation consolidation pattern after an upward move.
Resistance to the upside (short-term): 4349.44, the intraday high; the stronger pressure level is 4381.86, the previous high.
Support to the downside: first support at 4337 (the 20-day moving average). The key defensive support is around 4326. If price breaks below this level, the rebound rhythm of this move will be interrupted.
Currently, price is consolidating at higher levels with no clear one-way direction. The focus should be on a breakout from the range. Until a level is broken, range trading is preferred.
Recommendation
Go long in the 4310–4332 range. Targets: first look at 4349; after a breakout, watch for a move above 4381.
#黄金 $XAU
