9.28 Morning Gold Market Analysis
In the early trading session, gold prices opened with a gap down and moved lower, remaining under overall downward pressure and continuing last week’s weak pullback structure.
On the hourly chart, the price action repeatedly oscillates and fights for direction. The MACD’s two lines remain above the zero axis, while the red histogram bars slightly expand, suggesting a faint sign of a short-term recovery in bullish momentum. However, the rebound lacks sufficient strength to sustain a continuous one-way rally. The market continues to repeatedly test key levels, so avoid chasing or panic-selling. Wait patiently for signals to become clear at the resistance and support zones before entering when conditions are favorable.
Trading Recommendations
If gold rebounds to the 4285–4305 range, consider placing short orders. Targets are 4250 first, then 4225, with further downside toward around 4200.
In the early trading session, gold prices opened with a gap down and moved lower, remaining under overall downward pressure and continuing last week’s weak pullback structure.
On the hourly chart, the price action repeatedly oscillates and fights for direction. The MACD’s two lines remain above the zero axis, while the red histogram bars slightly expand, suggesting a faint sign of a short-term recovery in bullish momentum. However, the rebound lacks sufficient strength to sustain a continuous one-way rally. The market continues to repeatedly test key levels, so avoid chasing or panic-selling. Wait patiently for signals to become clear at the resistance and support zones before entering when conditions are favorable.
Trading Recommendations
If gold rebounds to the 4285–4305 range, consider placing short orders. Targets are 4250 first, then 4225, with further downside toward around 4200.
