October 9 Afternoon Market Outlook and Strategy
On the one-hour chart, prices surged sharply intraday, gaining 1.49%, and gold staged a strong, one-way rebound. The moving averages on the one-hour chart are fully aligned to the upside, with prices continuing to climb along the short-term averages. Bullish momentum has been fully unleashed, but after the rapid short-term rise, a pullback to consolidate is likely, so avoid blindly chasing prices higher.
Near-term resistance is at 4207‑4212, the high reached during this rally. A decisive break above this level would open up further upside for the bulls. Near-term support is at 4166‑4170 (the 10-period moving average), with key support at 4145.47. If that level fails, the strong upward momentum of this rally will be broken and the market will enter a correction.
Recommendation
Go long in the 4150‑4170 range, targeting 4200‑4210 #黄金 $XAU
On the one-hour chart, prices surged sharply intraday, gaining 1.49%, and gold staged a strong, one-way rebound. The moving averages on the one-hour chart are fully aligned to the upside, with prices continuing to climb along the short-term averages. Bullish momentum has been fully unleashed, but after the rapid short-term rise, a pullback to consolidate is likely, so avoid blindly chasing prices higher.
Near-term resistance is at 4207‑4212, the high reached during this rally. A decisive break above this level would open up further upside for the bulls. Near-term support is at 4166‑4170 (the 10-period moving average), with key support at 4145.47. If that level fails, the strong upward momentum of this rally will be broken and the market will enter a correction.
Recommendation
Go long in the 4150‑4170 range, targeting 4200‑4210 #黄金 $XAU