10.8 JINMAN Gold Midnight Review: Spot gold is trading in a wide range—bulls and bears are locked in a tug-of-war. The double top faces pressure; pullbacks to support offer chances to go long!
In the short-term within the day, spot gold is showing a wide-ranging range-bound battle. In the early session, it rebounded from the intraday low of 4103.44, with the bulls pushing up to the interim high of 4143.18 before falling back under pressure. Afterwards, the price kept oscillating; a second attempt to push higher again ran into resistance. It is currently trading around 4115.79. Bulls and bears are in fierce contention, and the pace of switching between short-term swings is relatively fast.
Technically speaking, on the 4-hour chart, a double-top pressure structure has formed. The price has pulled back into the middle-to-lower portion of the consolidation range. The 4140–4143 area above is a strong resistance zone, while the 4100–4103 area below is the key support.
MACD momentum frequently flips between bullish and bearish signals, and the KDJ indicator diverges downward. In the short term, there is still momentum to test support on the downside; overall, the consolidation/range-trading structure has not undergone any fundamental change.
Trading reference: When price retraces into the 4105–4085 zone, consider building long positions in batches. Targets to watch are 4140 first, then 4170.
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In the short-term within the day, spot gold is showing a wide-ranging range-bound battle. In the early session, it rebounded from the intraday low of 4103.44, with the bulls pushing up to the interim high of 4143.18 before falling back under pressure. Afterwards, the price kept oscillating; a second attempt to push higher again ran into resistance. It is currently trading around 4115.79. Bulls and bears are in fierce contention, and the pace of switching between short-term swings is relatively fast.
Technically speaking, on the 4-hour chart, a double-top pressure structure has formed. The price has pulled back into the middle-to-lower portion of the consolidation range. The 4140–4143 area above is a strong resistance zone, while the 4100–4103 area below is the key support.
MACD momentum frequently flips between bullish and bearish signals, and the KDJ indicator diverges downward. In the short term, there is still momentum to test support on the downside; overall, the consolidation/range-trading structure has not undergone any fundamental change.
Trading reference: When price retraces into the 4105–4085 zone, consider building long positions in batches. Targets to watch are 4140 first, then 4170.
#黄金 $BTC $ETH