10.5 Jinman Gold Evening Commentary: Gold Prices Hit Resistance at 4170 and Pull Back; Low-Level Recovery Continues, Bearish Outlook Unchanged!
Spot gold dipped before rebounding during the day. After opening at 4142.09 in the morning, it fell to the intraday low of 4124.69. Buying support then drove a sustained rebound. In the evening, prices met resistance after reaching a high of 4170.39 and pulled back slightly. They are currently trading around 4157.55. The short-term recovery is continuing, while intraday volatility has increased significantly amid the tug-of-war between bulls and bears.
Technically, on the 4-hour chart, prices are in a low-level recovery phase following a sharp drop. The rebound is testing resistance from the short-term moving averages, while the Bollinger Bands channel continues to slope downward overall. The 4120–4110 range below is the key support zone, while 4170–4180 above forms strong short-term resistance. Bearish MACD momentum continues to weaken, and the two lines have edged higher after forming a golden cross at low levels. Short-term recovery momentum remains, but the broader bearish trend has yet to reverse.
Trading reference: Consider scaling into short positions if prices rebound to the 4165–4185 range, with downside targets at 4130 and 4100.
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Spot gold dipped before rebounding during the day. After opening at 4142.09 in the morning, it fell to the intraday low of 4124.69. Buying support then drove a sustained rebound. In the evening, prices met resistance after reaching a high of 4170.39 and pulled back slightly. They are currently trading around 4157.55. The short-term recovery is continuing, while intraday volatility has increased significantly amid the tug-of-war between bulls and bears.
Technically, on the 4-hour chart, prices are in a low-level recovery phase following a sharp drop. The rebound is testing resistance from the short-term moving averages, while the Bollinger Bands channel continues to slope downward overall. The 4120–4110 range below is the key support zone, while 4170–4180 above forms strong short-term resistance. Bearish MACD momentum continues to weaken, and the two lines have edged higher after forming a golden cross at low levels. Short-term recovery momentum remains, but the broader bearish trend has yet to reverse.
Trading reference: Consider scaling into short positions if prices rebound to the 4165–4185 range, with downside targets at 4130 and 4100.
#黄金 $BTC $ETH
