9.18 Spot Gold (XAU/USD) Morning Outlook
Gold’s 30-minute chart has already completed a CHoCH low-point lift + an upside BOS, and the long-side structure is established.
Last night’s pullback looked like an internal retracement after the high. Throughout the entire pullback, price held above the cloud zone, the underlying uptrend structure was not broken, indicators have been repaired, and price turned upward again—bulls are in control.
Around 4380 is strong resistance. There will likely be choppy back-and-forth action: a push higher followed by a pullback. As long as the structural lifeline at 4315 is not broken by a bearish body, any pullbacks are temporarily defined as retracements.
Recommendation: Go long in the 4330–4345 area. Targets: 4380, 4400, 4430. $BTC
Gold’s 30-minute chart has already completed a CHoCH low-point lift + an upside BOS, and the long-side structure is established.
Last night’s pullback looked like an internal retracement after the high. Throughout the entire pullback, price held above the cloud zone, the underlying uptrend structure was not broken, indicators have been repaired, and price turned upward again—bulls are in control.
Around 4380 is strong resistance. There will likely be choppy back-and-forth action: a push higher followed by a pullback. As long as the structural lifeline at 4315 is not broken by a bearish body, any pullbacks are temporarily defined as retracements.
Recommendation: Go long in the 4330–4345 area. Targets: 4380, 4400, 4430. $BTC
