9.30 Evening Gold Outlook:
ADP employment and core PCE inflation data are about to be released this evening. After the data hits, market volatility will likely increase.
After gold prices surged higher, they faced downward pressure and pulled back. The 4200 area has formed a clear resistance zone. Until price can effectively break and hold above this level, the overall market bias remains slightly bearish.
With high uncertainty in the market, it’s not advisable to take an aggressive position in advance. The key focus is the outcome of the long-vs-short battle around the 4200 level.
Technical view: There is strong overhead resistance. If price fails to hold above 4200, treat it as a bearish (short) setup.
Resistance: 4200-4210; Support: 4130-4100
Trading reference:
If the rebound into 4200-4210 is rejected, consider shorting. Targets: 4150-4130-4100. Risk control: 4220.
If gold stabilizes above 4200, abandon the short idea and follow with long positions.
#XAU
ADP employment and core PCE inflation data are about to be released this evening. After the data hits, market volatility will likely increase.
After gold prices surged higher, they faced downward pressure and pulled back. The 4200 area has formed a clear resistance zone. Until price can effectively break and hold above this level, the overall market bias remains slightly bearish.
With high uncertainty in the market, it’s not advisable to take an aggressive position in advance. The key focus is the outcome of the long-vs-short battle around the 4200 level.
Technical view: There is strong overhead resistance. If price fails to hold above 4200, treat it as a bearish (short) setup.
Resistance: 4200-4210; Support: 4130-4100
Trading reference:
If the rebound into 4200-4210 is rejected, consider shorting. Targets: 4150-4130-4100. Risk control: 4220.
If gold stabilizes above 4200, abandon the short idea and follow with long positions.
#XAU