9.29 JINMAN Gold Evening Review: Gold Price Repairs and Rebounds—No Change to the High-Side Rebound Trading Plan!
During the day, gold saw an oversold rebound. From the intraday low of 4113.38, the price moved in a choppy upward path, reaching a high of 4161.25. After touching the resistance of the prior descending trendline, it lagged and pulled back. It is currently at 4152.45, up 0.93% for the day. The essence of this rebound is a technical correction after consecutive sharp declines. Bulls have still failed to break through a key resistance zone, so the overall bearish structure has not been reversed.
Fundamentals: The lingering warmth of hawkish remarks from Fed officials has not faded. Rate-cut expectations keep fading, while both the US dollar index and US Treasury yields are trading in high-range consolidation. Pressure on the interest-rate side remains the main bearish factor constraining gold’s upside.
Technicals: On the 4-hour chart, the MACD green histogram keeps narrowing, and short-term recovery momentum still exists. On the smaller timeframes, price is pressing toward the upper band of the Bollinger Bands, and overbought signals are gradually appearing. Bulls are losing steam, and the need for a pullback and adjustment is heating up.
Trading reference: On rebounds into the 4160–4180 area, scale in short positions. Targets to watch are 4120 first, then 4100.
#黄金 $BTC $ETH
During the day, gold saw an oversold rebound. From the intraday low of 4113.38, the price moved in a choppy upward path, reaching a high of 4161.25. After touching the resistance of the prior descending trendline, it lagged and pulled back. It is currently at 4152.45, up 0.93% for the day. The essence of this rebound is a technical correction after consecutive sharp declines. Bulls have still failed to break through a key resistance zone, so the overall bearish structure has not been reversed.
Fundamentals: The lingering warmth of hawkish remarks from Fed officials has not faded. Rate-cut expectations keep fading, while both the US dollar index and US Treasury yields are trading in high-range consolidation. Pressure on the interest-rate side remains the main bearish factor constraining gold’s upside.
Technicals: On the 4-hour chart, the MACD green histogram keeps narrowing, and short-term recovery momentum still exists. On the smaller timeframes, price is pressing toward the upper band of the Bollinger Bands, and overbought signals are gradually appearing. Bulls are losing steam, and the need for a pullback and adjustment is heating up.
Trading reference: On rebounds into the 4160–4180 area, scale in short positions. Targets to watch are 4120 first, then 4100.
#黄金 $BTC $ETH
