Oct. 6 Gold Midday Commentary
Gold is currently trading at 4137.06. The outlook given in this morning’s forecast has once again been confirmed: after rising to test resistance, prices pulled back. Overall, the market move matched the morning forecast, and the predicted resistance and support levels were accurate.
Technical analysis: The 1-hour Bollinger Bands are contracting downward, with gold trading below the middle band, so bearish pressure remains. The 30-minute Bollinger Bands have flattened slightly. The short-term rebound is a brief recovery after a test of the lows; the broader bearish trend remains unchanged.
Resistance: 4152 and 4170; support: 4110 and 4105.
Coco’s recommendation: Don’t chase the midday rally; continue to sell into rebounds. Consider short positions in the 4150–4170 range, targeting 4110 and 4100. Keep positions small and use strict stop-losses.
Note: The above reflects personal views only and does not constitute investment advice. #黄金
Gold is currently trading at 4137.06. The outlook given in this morning’s forecast has once again been confirmed: after rising to test resistance, prices pulled back. Overall, the market move matched the morning forecast, and the predicted resistance and support levels were accurate.
Technical analysis: The 1-hour Bollinger Bands are contracting downward, with gold trading below the middle band, so bearish pressure remains. The 30-minute Bollinger Bands have flattened slightly. The short-term rebound is a brief recovery after a test of the lows; the broader bearish trend remains unchanged.
Resistance: 4152 and 4170; support: 4110 and 4105.
Coco’s recommendation: Don’t chase the midday rally; continue to sell into rebounds. Consider short positions in the 4150–4170 range, targeting 4110 and 4100. Keep positions small and use strict stop-losses.
Note: The above reflects personal views only and does not constitute investment advice. #黄金