9.21 Gold Evening Review
The support levels predicted in the midday review arrived as expected. The market continued to weaken and move downward; the current gold price is around 4345.
Technical analysis: The 1-hour Bollinger Bands are opening downward, and the price is running along the lower band. Bearish momentum is continuously being released. The 30-minute Bollinger Bands are also diverging downward; the price keeps probing lower. Tonight, a clear sideways-to-downward move is expected, with short-term bears taking the lead.
Resistance: 4365, 4378; Support: 4340, 4328.
Coco’s suggestion: Tonight, focus on selling on rebounds as the main direction, and do not blindly try to catch the bottom. Enter in the 4360–4380 rebound range, with targets at 4340 and 4330. Participate with small position size and strictly set/attach a stop-loss.
Note: The above is only my personal opinion and does not constitute investment advice.$XAU
The support levels predicted in the midday review arrived as expected. The market continued to weaken and move downward; the current gold price is around 4345.
Technical analysis: The 1-hour Bollinger Bands are opening downward, and the price is running along the lower band. Bearish momentum is continuously being released. The 30-minute Bollinger Bands are also diverging downward; the price keeps probing lower. Tonight, a clear sideways-to-downward move is expected, with short-term bears taking the lead.
Resistance: 4365, 4378; Support: 4340, 4328.
Coco’s suggestion: Tonight, focus on selling on rebounds as the main direction, and do not blindly try to catch the bottom. Enter in the 4360–4380 rebound range, with targets at 4340 and 4330. Participate with small position size and strictly set/attach a stop-loss.
Note: The above is only my personal opinion and does not constitute investment advice.$XAU
