10.12 Gold Midnight Commentary
Spot gold continued its pullback during the overnight session, with the current price running around 4167. The intraday low was 4154.63, and the intraday high reached 4217.17.
From the 4-hour chart, the rebound that started from 4066 has clearly slowed; on the 1-hour level, after surging to 4217, consecutive bearish candles have emerged, bullish momentum continues to weaken, and the short-term correction has already begun.
Key Levels
Resistance: 4185‑4200
Support: 4160-4140
Trading Idea
It is no longer suitable to buy the dip at midnight. Near the 4185‑4200 resistance zone, you may consider a light short position, with the target looking toward 4160-4140.
In the second half of the night, market liquidity weakens, making probe moves more likely. Be sure to strictly control position size and manage risk.$XAU
Spot gold continued its pullback during the overnight session, with the current price running around 4167. The intraday low was 4154.63, and the intraday high reached 4217.17.
From the 4-hour chart, the rebound that started from 4066 has clearly slowed; on the 1-hour level, after surging to 4217, consecutive bearish candles have emerged, bullish momentum continues to weaken, and the short-term correction has already begun.
Key Levels
Resistance: 4185‑4200
Support: 4160-4140
Trading Idea
It is no longer suitable to buy the dip at midnight. Near the 4185‑4200 resistance zone, you may consider a light short position, with the target looking toward 4160-4140.
In the second half of the night, market liquidity weakens, making probe moves more likely. Be sure to strictly control position size and manage risk.$XAU