9.29 Yellow Croaker Thoughts Analysis
Yesterday, gold saw a sharp sell-off. After starting a consecutive decline from the high of 4280, there were deep intraday plunges, with the lowest dipping to 4110. In the short term, the bears’ momentum concentrated and released; afterward, there was a technical stop-the-fall repair, and the price rebounded to around 4120 and then consolidated.
On the 1-hour timeframe: after the big drop, bearish momentum has somewhat waned, but the trend structure has already weakened. The rebound is only defined as a corrective move after the decline. As the rebound approaches the 4140 area, it faces resistance, so prioritize following the trend to look for selling. If the 4110 low holds and does not break, you may cautiously place a small bet on a short-term rebound.
Trading suggestion: Sell at 4130-4140, with a stop above 4150. Target 4100 (breakdown below 4080).
(Personal suggestions for reference only; everything is subject to the live market)#XAU $XAU
Yesterday, gold saw a sharp sell-off. After starting a consecutive decline from the high of 4280, there were deep intraday plunges, with the lowest dipping to 4110. In the short term, the bears’ momentum concentrated and released; afterward, there was a technical stop-the-fall repair, and the price rebounded to around 4120 and then consolidated.
On the 1-hour timeframe: after the big drop, bearish momentum has somewhat waned, but the trend structure has already weakened. The rebound is only defined as a corrective move after the decline. As the rebound approaches the 4140 area, it faces resistance, so prioritize following the trend to look for selling. If the 4110 low holds and does not break, you may cautiously place a small bet on a short-term rebound.
Trading suggestion: Sell at 4130-4140, with a stop above 4150. Target 4100 (breakdown below 4080).
(Personal suggestions for reference only; everything is subject to the live market)#XAU $XAU
