9.22 Spot Gold (XAU/USD) Morning View
Yesterday saw a rally that peaked and then pulled back. In the US session, price tested down to 4322 and stabilized; the daily candle printed a long lower-shadow bearish line. Support below is relatively strong, and bearish momentum has been exhausted. The daily chart still needs corrective consolidation after the fluctuations, while the weekly chart overall maintains an upward consolidation trend.
Near-term resistance lies at 4375-4383. If price cannot break through effectively, expect a second pullback. On the pullback, consider buying on dips. Support is seen at 4300; if 4300 holds, the bullish structure remains unchanged.
If price stands above 4383, the prior high can open up targets at 4415-4430. If price stalls and lags at higher levels, look for a short afterward.
Trading plan:
Buy near 4335-4350, targeting 4370-4400-4415$XAU
Yesterday saw a rally that peaked and then pulled back. In the US session, price tested down to 4322 and stabilized; the daily candle printed a long lower-shadow bearish line. Support below is relatively strong, and bearish momentum has been exhausted. The daily chart still needs corrective consolidation after the fluctuations, while the weekly chart overall maintains an upward consolidation trend.
Near-term resistance lies at 4375-4383. If price cannot break through effectively, expect a second pullback. On the pullback, consider buying on dips. Support is seen at 4300; if 4300 holds, the bullish structure remains unchanged.
If price stands above 4383, the prior high can open up targets at 4415-4430. If price stalls and lags at higher levels, look for a short afterward.
Trading plan:
Buy near 4335-4350, targeting 4370-4400-4415$XAU
