9.18 XAU Analysis
On the hourly timeframe, XAU rose in a stepwise manner from the prior low point of 4244. After the price touched the upper Bollinger Band, it closed with a long upper wick under pressure and then pulled back. This is a signal of bulls exhausting after a pulse. The sell-order ratio on the order book has risen to 53%, overhead selling pressure continues to be released, and OBV volume momentum has been dulled in tandem. The momentum for chasing higher has clearly weakened.
Given macro expectations, risk-hedging sentiment is gradually cooling off. This rally is driven by short-term sentiment rather than indicating a trend reversal. We are currently in the secondary pullback stage after an advance. The preferred approach is to look for short opportunities by testing near the resistance of the upper Bollinger Band. The middle band is the first support. If there is a breakout above the previous high with increased volume, then the outlook should be adjusted. With heightened market volatility, it’s necessary to strictly control position sizing, keep room for tolerance, and guard against “needle-like” intraday moves triggered by fundamental news.
Trading suggestion: 4400-4420 long, target 4350-4280.
$XAU $BTC $ETH #香港拟年底前推出批发CBDC
On the hourly timeframe, XAU rose in a stepwise manner from the prior low point of 4244. After the price touched the upper Bollinger Band, it closed with a long upper wick under pressure and then pulled back. This is a signal of bulls exhausting after a pulse. The sell-order ratio on the order book has risen to 53%, overhead selling pressure continues to be released, and OBV volume momentum has been dulled in tandem. The momentum for chasing higher has clearly weakened.
Given macro expectations, risk-hedging sentiment is gradually cooling off. This rally is driven by short-term sentiment rather than indicating a trend reversal. We are currently in the secondary pullback stage after an advance. The preferred approach is to look for short opportunities by testing near the resistance of the upper Bollinger Band. The middle band is the first support. If there is a breakout above the previous high with increased volume, then the outlook should be adjusted. With heightened market volatility, it’s necessary to strictly control position sizing, keep room for tolerance, and guard against “needle-like” intraday moves triggered by fundamental news.
Trading suggestion: 4400-4420 long, target 4350-4280.
$XAU $BTC $ETH #香港拟年底前推出批发CBDC
