#Reviewing last night's market action, gold started a sustained rally from a low of 3989, with consecutive bullish hourly candles, producing a short-term bullish move. It reached a high near 4070, then met resistance and failed to break higher. After encountering resistance, a long bearish candle triggered a rapid pullback. The price fell below the 5- and 10-hour moving averages and is currently around 4050.
Gold met resistance near 4070 and was unable to make a new high. The short-term moving averages have turned from support into resistance, breaking the short-term bullish trend structure. This is profit-taking pressure from bulls after the rise. DIFF crossed below DEA, forming a death cross, while the momentum histogram shifted from red to green. Short-term bullish momentum has faded, and bearish momentum is being released—technical confirmation of an hourly pullback. There was also significant profit-taking during the rally, so 4070 may mark a short-term top. As long as the price continues to trade below that high, it will be harder for bulls to push it back up.
Plan: Sell short around 4055–4065, with a stop-loss near 4075. Target 4030; second target: 4000$XAUT #黄金
Gold met resistance near 4070 and was unable to make a new high. The short-term moving averages have turned from support into resistance, breaking the short-term bullish trend structure. This is profit-taking pressure from bulls after the rise. DIFF crossed below DEA, forming a death cross, while the momentum histogram shifted from red to green. Short-term bullish momentum has faded, and bearish momentum is being released—technical confirmation of an hourly pullback. There was also significant profit-taking during the rally, so 4070 may mark a short-term top. As long as the price continues to trade below that high, it will be harder for bulls to push it back up.
Plan: Sell short around 4055–4065, with a stop-loss near 4075. Target 4030; second target: 4000$XAUT #黄金
