10/7 Afternoon Market Outlook and Strategy Analysis
On the one-hour chart, gold prices quickly pulled back after rising to 4169.96. All the one-hour moving averages have turned downward, with the 5-, 10-, and 20-period moving averages forming bearish resistance. The short-term trend has shifted from a rebound to a decline, as bearish momentum is being released all at once.
Short-term resistance is at 4144‑4154, where the 10-day and 20-day moving averages are located. This is the main resistance zone for any rebound. Short-term support is at 4126.87, with stronger support at the previous low of 4105.98. If 4126 is decisively broken, bears are likely to push prices lower to test the 4105 area.
Bullish momentum is too weak to drive prices higher, and the pullback from the highs has broken support. In the short term, favor trading in line with the trend and expect further correction. Don’t rush to buy the dip; focus on shorting into rebounds that meet resistance.
Recommendation
Go long at 4110-4130, targeting 4178‑4184. If 4184 is decisively broken, follow the trend and look for higher levels, at #黄金 $XAU
On the one-hour chart, gold prices quickly pulled back after rising to 4169.96. All the one-hour moving averages have turned downward, with the 5-, 10-, and 20-period moving averages forming bearish resistance. The short-term trend has shifted from a rebound to a decline, as bearish momentum is being released all at once.
Short-term resistance is at 4144‑4154, where the 10-day and 20-day moving averages are located. This is the main resistance zone for any rebound. Short-term support is at 4126.87, with stronger support at the previous low of 4105.98. If 4126 is decisively broken, bears are likely to push prices lower to test the 4105 area.
Bullish momentum is too weak to drive prices higher, and the pullback from the highs has broken support. In the short term, favor trading in line with the trend and expect further correction. Don’t rush to buy the dip; focus on shorting into rebounds that meet resistance.
Recommendation
Go long at 4110-4130, targeting 4178‑4184. If 4184 is decisively broken, follow the trend and look for higher levels, at #黄金 $XAU