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渡尘-eco
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BullishSeptember 21 Gold Early Commentary
Last Friday, gold saw a roller-coaster type of move. During the Asian session, the gold price rose from $4,334 to around the short-term high near $4,400. Then, in the European and U.S. sessions, it encountered profit-taking and a resurgence of short sellers. In the evening, gold climbed again to around $4,395. Near the close, it edged slightly lower and ultimately finished at $4,378. On the daily chart, this formed a bullish candlestick with both upper and lower wicks.
From a technical perspective, in the short term on the hourly chart, although the gold price dipped slightly at the end of Friday, the moving-average system still remains in a bullish configuration, so that support has not been altered. However, the MACD indicator’s momentum histogram did not expand in sync; instead, it shows a clear contraction pattern. In addition, the KDJ lines at high levels show signs of turning downward, suggesting that short-term upward momentum is starting to weaken and that there may be a need for a technical pullback.
That said, on the daily chart, the gold price is still holding above key moving averages, and the overall uptrend has not been broken.
In terms of trading, my personal suggestion is to first look for the gold price to pull back today. Pay attention to the support performance in the $4,350–$4,360 zone. If it stabilizes, consider initiating a small long position. Place a stop loss below $4,340, with targets toward the $4,380–$4,390 area. If gold unexpectedly breaks below the $4,350 support, be alert to the risk of further pullback; then watch the $4,320–$4,330 zone below.
The above analysis is for reference only and does not constitute any investment advice. Financial markets are highly volatile, and investing involves risk—proceed with caution when entering the market.#黄金 #伦敦金 $XAUT
Last Friday, gold saw a roller-coaster type of move. During the Asian session, the gold price rose from $4,334 to around the short-term high near $4,400. Then, in the European and U.S. sessions, it encountered profit-taking and a resurgence of short sellers. In the evening, gold climbed again to around $4,395. Near the close, it edged slightly lower and ultimately finished at $4,378. On the daily chart, this formed a bullish candlestick with both upper and lower wicks.
From a technical perspective, in the short term on the hourly chart, although the gold price dipped slightly at the end of Friday, the moving-average system still remains in a bullish configuration, so that support has not been altered. However, the MACD indicator’s momentum histogram did not expand in sync; instead, it shows a clear contraction pattern. In addition, the KDJ lines at high levels show signs of turning downward, suggesting that short-term upward momentum is starting to weaken and that there may be a need for a technical pullback.
That said, on the daily chart, the gold price is still holding above key moving averages, and the overall uptrend has not been broken.
In terms of trading, my personal suggestion is to first look for the gold price to pull back today. Pay attention to the support performance in the $4,350–$4,360 zone. If it stabilizes, consider initiating a small long position. Place a stop loss below $4,340, with targets toward the $4,380–$4,390 area. If gold unexpectedly breaks below the $4,350 support, be alert to the risk of further pullback; then watch the $4,320–$4,330 zone below.
The above analysis is for reference only and does not constitute any investment advice. Financial markets are highly volatile, and investing involves risk—proceed with caution when entering the market.#黄金 #伦敦金 $XAUT
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.