Gold, 10/22:
On the daily chart, the price is currently below the Bollinger middle band and near the lower band. The Bollinger Bands are trending downward overall, and the broader trend remains bearish. The previous low around 4066 is acting as support. After the decline, the price is consolidating at a low level; any move upward will first face resistance around the Bollinger middle band.
The three KDJ lines are in bearish territory below 50. The J-line is turning upward from a low level, suggesting the possibility of a weak bullish crossover. There is potential for a modest short-term corrective rebound, but no strong reversal signal has formed yet.
Trading suggestion:
Go short in the 4140–4120 range, with targets at 4050–4000 and a stop at 4150.
(For reference only; actual market conditions prevail.)
On the daily chart, the price is currently below the Bollinger middle band and near the lower band. The Bollinger Bands are trending downward overall, and the broader trend remains bearish. The previous low around 4066 is acting as support. After the decline, the price is consolidating at a low level; any move upward will first face resistance around the Bollinger middle band.
The three KDJ lines are in bearish territory below 50. The J-line is turning upward from a low level, suggesting the possibility of a weak bullish crossover. There is potential for a modest short-term corrective rebound, but no strong reversal signal has formed yet.
Trading suggestion:
Go short in the 4140–4120 range, with targets at 4050–4000 and a stop at 4150.
(For reference only; actual market conditions prevail.)