9.25 Chen Jie Midday Analysis
Tonight, attention will be on U.S. durable goods orders and the final University of Michigan consumer sentiment reading. Official reserves remained stable (+20.22 tons), while ETF holdings decreased by 2.28 tons in a single day. After the morning move up to 4295 met resistance, price quickly pulled back to 4256 and is now consolidating around 4269. Intraday volatility was nearly 40 points. With heavy turnover ahead of Friday's close, maintain range trading by selling high and buying low within the two-sided range.
The 1-hour Bollinger upper band points to 4287. Today's high at 4295 overlaps with the 4-hour Bollinger middle band (4300), forming a strong overlapping resistance zone. 4290–4300 constitutes an extremely strong resistance wall.
The 15-minute lower band is at 4255, and the 1-hour Bollinger lower band is at 4252, resonating with the morning low at 4256 to provide support. The strong defense line references yesterday's bottoming point at 4244.
Trading Strategy
Short around 4285-4295, target 4255-4225-4195, stop-loss at 4304
Go long around 4250-4260, target 4290-4320-4350, stop-loss at 4240#xau $XAU
Tonight, attention will be on U.S. durable goods orders and the final University of Michigan consumer sentiment reading. Official reserves remained stable (+20.22 tons), while ETF holdings decreased by 2.28 tons in a single day. After the morning move up to 4295 met resistance, price quickly pulled back to 4256 and is now consolidating around 4269. Intraday volatility was nearly 40 points. With heavy turnover ahead of Friday's close, maintain range trading by selling high and buying low within the two-sided range.
The 1-hour Bollinger upper band points to 4287. Today's high at 4295 overlaps with the 4-hour Bollinger middle band (4300), forming a strong overlapping resistance zone. 4290–4300 constitutes an extremely strong resistance wall.
The 15-minute lower band is at 4255, and the 1-hour Bollinger lower band is at 4252, resonating with the morning low at 4256 to provide support. The strong defense line references yesterday's bottoming point at 4244.
Trading Strategy
Short around 4285-4295, target 4255-4225-4195, stop-loss at 4304
Go long around 4250-4260, target 4290-4320-4350, stop-loss at 4240#xau $XAU
