9、24 Morning Market Outlook Analysis Strategy
The current gold price is 4287.96, closing slightly higher. After a round of deep decline, the market has temporarily stopped falling and is consolidating at low levels. On the one-hour timeframe, the moving averages are in a bearish alignment. The 5- and 10-period moving averages are closely pressing above price, while the 20-period moving average continues to extend downward. The broader trend remains bearish and has not been broken, so the short-term market is in a low-level corrective consolidation after the decline.
Short-term resistance above is 4289-4308, and the previous high at 4371.13 is an important strong resistance level. Short-term support below is 4274, with the key defensive low at 4260.21. Once this level is broken, downside room will open up again.
Suggestion
Go long at 4260-4275, target 4295-4310, and if it breaks through, look further up to 4320$XAU #黄金
The current gold price is 4287.96, closing slightly higher. After a round of deep decline, the market has temporarily stopped falling and is consolidating at low levels. On the one-hour timeframe, the moving averages are in a bearish alignment. The 5- and 10-period moving averages are closely pressing above price, while the 20-period moving average continues to extend downward. The broader trend remains bearish and has not been broken, so the short-term market is in a low-level corrective consolidation after the decline.
Short-term resistance above is 4289-4308, and the previous high at 4371.13 is an important strong resistance level. Short-term support below is 4274, with the key defensive low at 4260.21. Once this level is broken, downside room will open up again.
Suggestion
Go long at 4260-4275, target 4295-4310, and if it breaks through, look further up to 4320$XAU #黄金