September 24 Gold Early Report
Yesterday gold pushed higher but met resistance, and the second attempt to test higher failed to break the new high. In the evening, price continued to consolidate and then slid steadily downward, with the low touching 4275. It then stabilized slightly, and the daily chart closed bearish. The signals on the board are very clear: short-term bearish momentum has been partially released, and there is still room for further downside pullback and correction during the day. Therefore, today’s short-term main tone is—use rallies to absorb pressure and repair weakness; do not chase shorts.
However, keep in mind that in recent sessions the market has been whipsawing within a large range, with rapid switches between bulls and bears. While you look for pullbacks with the trend, also guard against two types of sudden reversals: a dip that bounces back, or a second probe that tests the prior low without breaking it and then ramps up again.
Key levels to highlight:
· Daily strong resistance: around 4347
It is unlikely to be reached today; treat it only as the upper background reference.
· Hourly line bull-bear pivot: 4311
This is today’s core. If the rebound reaches here and faces rejection, that’s a weak short-term signal—if price touches it, consider short opportunities.
· Weakness suppression: 4298
If price continues to trade below the early-morning rebound high area, it suggests the overall market remains weak.
· Support below: first look at 4275
If it is broken with validity, then further downside may target 4257.
Strong support is concentrated at the prior low around 4235 and the 4200 round-number level. This area forms a dense support zone for the current phase. After it stabilizes, there is a high probability of a rebound and repair.
Trade response:
Go long around 4260–50, with targets looking up to 4330 and 4350! #XAUUSD #比特币现货ETF四日流入23.1亿美元
Yesterday gold pushed higher but met resistance, and the second attempt to test higher failed to break the new high. In the evening, price continued to consolidate and then slid steadily downward, with the low touching 4275. It then stabilized slightly, and the daily chart closed bearish. The signals on the board are very clear: short-term bearish momentum has been partially released, and there is still room for further downside pullback and correction during the day. Therefore, today’s short-term main tone is—use rallies to absorb pressure and repair weakness; do not chase shorts.
However, keep in mind that in recent sessions the market has been whipsawing within a large range, with rapid switches between bulls and bears. While you look for pullbacks with the trend, also guard against two types of sudden reversals: a dip that bounces back, or a second probe that tests the prior low without breaking it and then ramps up again.
Key levels to highlight:
· Daily strong resistance: around 4347
It is unlikely to be reached today; treat it only as the upper background reference.
· Hourly line bull-bear pivot: 4311
This is today’s core. If the rebound reaches here and faces rejection, that’s a weak short-term signal—if price touches it, consider short opportunities.
· Weakness suppression: 4298
If price continues to trade below the early-morning rebound high area, it suggests the overall market remains weak.
· Support below: first look at 4275
If it is broken with validity, then further downside may target 4257.
Strong support is concentrated at the prior low around 4235 and the 4200 round-number level. This area forms a dense support zone for the current phase. After it stabilizes, there is a high probability of a rebound and repair.
Trade response:
Go long around 4260–50, with targets looking up to 4330 and 4350! #XAUUSD #比特币现货ETF四日流入23.1亿美元