9.28 Monday Gold Morning Report
At the open, the market gapped down, leaving a small gap around the 4280 level.
In the short term, watch the support area of 4255–4245. If the bulls can successfully hold this level, price may rise to fill the gap; however, if it breaks below 4245, hold off on buying and wait for further confirmation at a lower level.
Resistance is at 4300–4320. As long as the bears hold this zone, the risk of further downside remains.
Recommendation:
4240–4250, aim upward toward the 4280–4300 area
At the open, the market gapped down, leaving a small gap around the 4280 level.
In the short term, watch the support area of 4255–4245. If the bulls can successfully hold this level, price may rise to fill the gap; however, if it breaks below 4245, hold off on buying and wait for further confirmation at a lower level.
Resistance is at 4300–4320. As long as the bears hold this zone, the risk of further downside remains.
Recommendation:
4240–4250, aim upward toward the 4280–4300 area