10.13 Gold Morning Analysis
Yesterday, supported by lower-level support, gold prices staged a corrective rebound, climbing to 4217 before encountering strong resistance. They then fluctuated lower and returned to range-bound trading.
From a technical perspective, the RSI has edged up from oversold territory, while bearish momentum has weakened somewhat. There are short-term signs of a potential bottom, but this is only a corrective rebound and has not formed a reversal pattern. Overall, the market remains in a consolidation phase, and the broader trend still requires a clearer breakout signal for confirmation.
Trading Strategy
Consider entering short positions if the rebound reaches the 4180–4200 resistance zone, with interim targets at 4160→4130→4100.
Yesterday, supported by lower-level support, gold prices staged a corrective rebound, climbing to 4217 before encountering strong resistance. They then fluctuated lower and returned to range-bound trading.
From a technical perspective, the RSI has edged up from oversold territory, while bearish momentum has weakened somewhat. There are short-term signs of a potential bottom, but this is only a corrective rebound and has not formed a reversal pattern. Overall, the market remains in a consolidation phase, and the broader trend still requires a clearer breakout signal for confirmation.
Trading Strategy
Consider entering short positions if the rebound reaches the 4180–4200 resistance zone, with interim targets at 4160→4130→4100.