Xingran Midnight Gold Market Analysis
After touching a low of 4066, the price rallied rapidly, forming a very steep V-shaped rebound. The short-term moving average has crossed above the medium-term moving average, and both averages are clearly turning upward, indicating that short-term momentum has shifted from bearish to bullish. The price is currently around 4191, at a key “watershed” level.
Resistance above: 4207. This is the immediate resistance the current rebound is about to face, and it is also the latest high shown on the chart.
Resistance zone: 4186–4200. Based on the moving-average data, the price is currently trying to hold above the MA5. A decisive break above and hold over the 4200 mark would further confirm the bullish trend.
Support below: First support: around 4157; second support: 4131; strong support: 4066.
Trading strategy: Go long on a breakout and retest
If the price breaks above 4207.55 on strong volume and holds there, it would indicate that the bulls have taken full control. You could wait for a slight pullback to confirm support in the 4186–4200 zone, then consider following the trend and going long. The target is 4226 or higher.$XAU #比特币跌破8.1万美元
After touching a low of 4066, the price rallied rapidly, forming a very steep V-shaped rebound. The short-term moving average has crossed above the medium-term moving average, and both averages are clearly turning upward, indicating that short-term momentum has shifted from bearish to bullish. The price is currently around 4191, at a key “watershed” level.
Resistance above: 4207. This is the immediate resistance the current rebound is about to face, and it is also the latest high shown on the chart.
Resistance zone: 4186–4200. Based on the moving-average data, the price is currently trying to hold above the MA5. A decisive break above and hold over the 4200 mark would further confirm the bullish trend.
Support below: First support: around 4157; second support: 4131; strong support: 4066.
Trading strategy: Go long on a breakout and retest
If the price breaks above 4207.55 on strong volume and holds there, it would indicate that the bulls have taken full control. You could wait for a slight pullback to confirm support in the 4186–4200 zone, then consider following the trend and going long. The target is 4226 or higher.$XAU #比特币跌破8.1万美元