10.11 Jinman Gold: Next Week’s Market Outlook — 140-Point Deep V-Shaped Rebound; Gold Rises to 4207 and Enters Resistance Zone!
Spot gold staged a deep V-shaped reversal this week. After dipping to a weekly low of 4066 early in the week, it rebounded steadily and surged to 4207 late in the week. The latest quote is 4194, with bulls recovering most of this week’s losses.
Market drivers: Expectations for a Fed rate cut in October, geopolitical risk aversion, and a weaker U.S. dollar have all supported gold prices. However, investors are gradually taking profits at elevated levels, and the market is becoming more cautious about chasing prices higher.
Technical outlook: On the 2-hour chart, prices are holding above the key support at 4160, and the moving averages are aligned bullishly, with the uptrend intact. However, prices are nearing resistance at the previous high of 4226, indicators are approaching overbought territory, and selling pressure is gradually emerging above 4200.
Trading reference: Consider scaling into short positions on a rebound to the 4200–4220 range, with targets at 4150 and then 4100.
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Spot gold staged a deep V-shaped reversal this week. After dipping to a weekly low of 4066 early in the week, it rebounded steadily and surged to 4207 late in the week. The latest quote is 4194, with bulls recovering most of this week’s losses.
Market drivers: Expectations for a Fed rate cut in October, geopolitical risk aversion, and a weaker U.S. dollar have all supported gold prices. However, investors are gradually taking profits at elevated levels, and the market is becoming more cautious about chasing prices higher.
Technical outlook: On the 2-hour chart, prices are holding above the key support at 4160, and the moving averages are aligned bullishly, with the uptrend intact. However, prices are nearing resistance at the previous high of 4226, indicators are approaching overbought territory, and selling pressure is gradually emerging above 4200.
Trading reference: Consider scaling into short positions on a rebound to the 4200–4220 range, with targets at 4150 and then 4100.
#黄金 $BTC $ETH