Gold next week outlook (9/28-10/2):
From the candlestick patterns, gold is expected to see a rebound, with a target around 4560.
But exactly where the rebound starts is uncertain—last week’s price action was quite confusing.
At present, the support at the 4245 area is holding up fairly well.
4235, as the prior low, also provides a certain reference: if this rebound starts above 4235, then it would likely land around 4245;
if 4235 breaks down, then we need to pay close attention to the 4220 level.
From the 4-hour candlesticks, the upcoming market action also has an upward bias: on Monday, as long as price does not break below 4270, you can look for longs.
Next week will also bring the September Non-Farm Payrolls release. In East 8 time, it will be on the evening of October 2 at 8:30.
This is something to watch closely!#XAUUSD $XAU
From the candlestick patterns, gold is expected to see a rebound, with a target around 4560.
But exactly where the rebound starts is uncertain—last week’s price action was quite confusing.
At present, the support at the 4245 area is holding up fairly well.
4235, as the prior low, also provides a certain reference: if this rebound starts above 4235, then it would likely land around 4245;
if 4235 breaks down, then we need to pay close attention to the 4220 level.
From the 4-hour candlesticks, the upcoming market action also has an upward bias: on Monday, as long as price does not break below 4270, you can look for longs.
Next week will also bring the September Non-Farm Payrolls release. In East 8 time, it will be on the evening of October 2 at 8:30.
This is something to watch closely!#XAUUSD $XAU