10.13 Gold Morning Commentary
Spot gold traded in a narrow range early this morning, with the current price around 4172. The morning session ranged from 4170.91 to 4175.80, with relatively limited volatility.
On the 4-hour chart, after rising to 4217 and then pulling back, prices entered a brief consolidation phase. On the 1-hour chart, the decline has temporarily eased, with prices moving sideways near the lows. Bulls and bears are in a brief standoff, and the market has yet to choose a clear direction.
Key Levels
Resistance: 4190-4205
Support: 4160-4142
Trading Strategy
For now, avoid chasing trades during the morning session. Near the 4190-4205 resistance zone, consider a small short position, targeting 4160-4140.
Note: This strategy is for reference only. Market conditions can change at any time, so manage risk carefully. $XAU
Spot gold traded in a narrow range early this morning, with the current price around 4172. The morning session ranged from 4170.91 to 4175.80, with relatively limited volatility.
On the 4-hour chart, after rising to 4217 and then pulling back, prices entered a brief consolidation phase. On the 1-hour chart, the decline has temporarily eased, with prices moving sideways near the lows. Bulls and bears are in a brief standoff, and the market has yet to choose a clear direction.
Key Levels
Resistance: 4190-4205
Support: 4160-4142
Trading Strategy
For now, avoid chasing trades during the morning session. Near the 4190-4205 resistance zone, consider a small short position, targeting 4160-4140.
Note: This strategy is for reference only. Market conditions can change at any time, so manage risk carefully. $XAU