October 8 Morning Strategy Analysis
Gold prices have rebounded and recovered from the previous low of 4066.42. On the hourly chart, prices have held above the short-term moving averages, while the 5- and 10-day moving averages have turned upward and downward momentum has eased. Short-term bulls are beginning to counterattack, but strong resistance remains overhead. For now, this is viewed as a rebound following a sharp decline; the broader trend has not yet fully reversed.
Short-term resistance: 4139–4143, the high of this rebound. A sustained move above this level would open up further upside. Short-term support: 4114–4110 (20-day moving average); key defensive support: 4093.80. If this support breaks, the rebound will likely be over, and bears may resume driving prices lower.
Recommendation
Go long at 4100–4120, target 4135‑4143#黄金 $XAU
Gold prices have rebounded and recovered from the previous low of 4066.42. On the hourly chart, prices have held above the short-term moving averages, while the 5- and 10-day moving averages have turned upward and downward momentum has eased. Short-term bulls are beginning to counterattack, but strong resistance remains overhead. For now, this is viewed as a rebound following a sharp decline; the broader trend has not yet fully reversed.
Short-term resistance: 4139–4143, the high of this rebound. A sustained move above this level would open up further upside. Short-term support: 4114–4110 (20-day moving average); key defensive support: 4093.80. If this support breaks, the rebound will likely be over, and bears may resume driving prices lower.
Recommendation
Go long at 4100–4120, target 4135‑4143#黄金 $XAU