10.9 Jinman Gold Morning Analysis: Spot Gold’s rebound momentum is weakening; the major trend remains bearish. Prefer selling on rallies!
Gold continues its oversold correction: after ranging and rebounding from the 4066.42 low, it reached an intraday high of 4141.79 and is currently around 4141.65. After the rebound into the high zone, selling pressure emerged, the upward momentum waned, and price has shifted to consolidation at higher levels.
Fundamentals: Markets’ pricing for Fed rate cuts within the year continues to be scaled back; the core logic remains that “high interest rates will stay longer.” The overall strength of the US dollar and US Treasuries has not changed, and there has been no real fundamental shift to ease the pressure on gold.
Technical view: The 4-hour Bollinger Bands are overall trending downward. Price rebounds back toward and is being pressured by the mid-band. Medium-term moving averages continue to weigh on price. The broader structure remains a strong bearish setup; overall, this is still a repair phase after a drop.
Trading reference: Place short positions in the 4150–4170 range on rallies. Targets: 4100 and 4080.
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Gold continues its oversold correction: after ranging and rebounding from the 4066.42 low, it reached an intraday high of 4141.79 and is currently around 4141.65. After the rebound into the high zone, selling pressure emerged, the upward momentum waned, and price has shifted to consolidation at higher levels.
Fundamentals: Markets’ pricing for Fed rate cuts within the year continues to be scaled back; the core logic remains that “high interest rates will stay longer.” The overall strength of the US dollar and US Treasuries has not changed, and there has been no real fundamental shift to ease the pressure on gold.
Technical view: The 4-hour Bollinger Bands are overall trending downward. Price rebounds back toward and is being pressured by the mid-band. Medium-term moving averages continue to weigh on price. The broader structure remains a strong bearish setup; overall, this is still a repair phase after a drop.
Trading reference: Place short positions in the 4150–4170 range on rallies. Targets: 4100 and 4080.
#黄金 $BTC $ETH