September 23 Intraday Spot Gold Morning Analysis
The most trying is the range-bound grind; after yesterday’s deep dip, prices strongly reclaimed lost ground, which is enough to confirm the strength of support below—so there’s no need to let a brief intraday break below disrupt your long-term judgment.
After two consecutive trading days of consolidation and correction, the gold’s short-term adjustment is basically over. The bullish structure has been re-stabilized. On the daily chart, a long lower shadow has formed; the sell-side dumping momentum is gradually weakening. The market has strong follow-through/absorption, laying a foundation for subsequent rebound and upside.
The 4-hour chart is especially strong. After price briefly pierced the lower support zone, it quickly regained the lost ground, forming a typical “stop-hunt/flush-and-reclaim” (range washout) pattern. The short-term trend has shifted from range-bound and slightly weak to range-bound and slightly strong, with bulls returning to dominate.
For this morning, the operational bias remains: pull back to go long.
If pullbacks to 4345 and 4320 see support hold, you can consider long entries. Upside targets are 4375 and 4400. If price breaks higher, it can further extend to 4420. If price rises to 4400 and meets resistance, you may take a light short position once. With increased market volatility, manage position sizing well and patiently wait for point-level confirmation.
The above content is for technical exchange and sharing only and does not constitute any investment advice. Please refer to Cheng Jingsheng Shipan’s arrangement for specifics!$XAU
#XAUUSD
The most trying is the range-bound grind; after yesterday’s deep dip, prices strongly reclaimed lost ground, which is enough to confirm the strength of support below—so there’s no need to let a brief intraday break below disrupt your long-term judgment.
After two consecutive trading days of consolidation and correction, the gold’s short-term adjustment is basically over. The bullish structure has been re-stabilized. On the daily chart, a long lower shadow has formed; the sell-side dumping momentum is gradually weakening. The market has strong follow-through/absorption, laying a foundation for subsequent rebound and upside.
The 4-hour chart is especially strong. After price briefly pierced the lower support zone, it quickly regained the lost ground, forming a typical “stop-hunt/flush-and-reclaim” (range washout) pattern. The short-term trend has shifted from range-bound and slightly weak to range-bound and slightly strong, with bulls returning to dominate.
For this morning, the operational bias remains: pull back to go long.
If pullbacks to 4345 and 4320 see support hold, you can consider long entries. Upside targets are 4375 and 4400. If price breaks higher, it can further extend to 4420. If price rises to 4400 and meets resistance, you may take a light short position once. With increased market volatility, manage position sizing well and patiently wait for point-level confirmation.
The above content is for technical exchange and sharing only and does not constitute any investment advice. Please refer to Cheng Jingsheng Shipan’s arrangement for specifics!$XAU
#XAUUSD
