9.23 Spot Gold (XAU/USD) Evening View
During the day, gold prices fluctuated and rebounded repeatedly. After rising during the daytime and meeting resistance, price pulled back slightly but did not test deeply lower. During the decline, selling pressure was limited. After the pullback, prices stabilized again, and overall the market maintained a mildly bullish, range-bound structure.
On the daily timeframe, price has continued to hold above yesterday’s long lower-wick doji. Support at the lower levels is solid; the bears have failed to keep pushing down through the breakdown. The power of bottom-buying continues to work effectively. On the 4-hour timeframe, price has repeatedly bounced with support around the middle band of the Bollinger Bands. The recent pullback did not break the key support zone. This is a pullback-and-flush pattern while the uptrend remains intact; the long-side trend structure has not been damaged.
On the 4-hour Bollinger Bands: upper band 4388.59, middle band 4348.06, lower band 4307.53. Currently, the Bollinger channel remains relatively flat and tilting upward. For the evening, focus on the 4388 resistance level—once there is a valid breakout, upward room will open further. As long as the pullback does not fall below the middle band, the bullish structure will remain intact.
Trading Strategy:
Go long in the 4300–4310 range upon stabilization. Targets are 4376–4388 in sequence. If there is a breakout, continue to look for 4400. If 4391 (the previous low) is broken to the downside, you may consider a short sell following the move. #xau $XAU
During the day, gold prices fluctuated and rebounded repeatedly. After rising during the daytime and meeting resistance, price pulled back slightly but did not test deeply lower. During the decline, selling pressure was limited. After the pullback, prices stabilized again, and overall the market maintained a mildly bullish, range-bound structure.
On the daily timeframe, price has continued to hold above yesterday’s long lower-wick doji. Support at the lower levels is solid; the bears have failed to keep pushing down through the breakdown. The power of bottom-buying continues to work effectively. On the 4-hour timeframe, price has repeatedly bounced with support around the middle band of the Bollinger Bands. The recent pullback did not break the key support zone. This is a pullback-and-flush pattern while the uptrend remains intact; the long-side trend structure has not been damaged.
On the 4-hour Bollinger Bands: upper band 4388.59, middle band 4348.06, lower band 4307.53. Currently, the Bollinger channel remains relatively flat and tilting upward. For the evening, focus on the 4388 resistance level—once there is a valid breakout, upward room will open further. As long as the pullback does not fall below the middle band, the bullish structure will remain intact.
Trading Strategy:
Go long in the 4300–4310 range upon stabilization. Targets are 4376–4388 in sequence. If there is a breakout, continue to look for 4400. If 4391 (the previous low) is broken to the downside, you may consider a short sell following the move. #xau $XAU