11.3 Luo Yi Huangyu's Morning Outlook
Overall trend: After overnight trading produced a strong rebound, prices peaked at 3970 before pulling back. This is a healthy retracement to consolidate after a sharp rise. The broader structure has turned bullish, and this pullback is an opportunity to buy the dip—not a trend reversal.
Market recap: This rally began from a low of 3893 with a strong bullish candle, as buyers entered the market in force. After reaching 3970, short-term profit-taking drove the gold price back to around 3946, where it has been moving sideways. The 15-minute MACD turning green is merely a short-term correction signal; support from the rising channel below remains intact, and it will be difficult for bears to regain the initiative.
Market analysis: The consecutive declines earlier washed out the panic sellers. This rebound is being driven by genuine buying. Keep a close eye on the key support zone at 3920–3926. As long as this level holds, the bulls will finish consolidating and launch another advance. A sustained move above 3970 would open up significant upside. As long as support holds, maintain a firm bullish outlook and do not try to go short.
Trade reference:
✅ Long position: Look to enter if prices pull back to 3920–3926 and stabilize. Set a stop at 3912; the first target is 3960, and the second is a breakout above 3970, with further upside possible
$XAU #XAU
Overall trend: After overnight trading produced a strong rebound, prices peaked at 3970 before pulling back. This is a healthy retracement to consolidate after a sharp rise. The broader structure has turned bullish, and this pullback is an opportunity to buy the dip—not a trend reversal.
Market recap: This rally began from a low of 3893 with a strong bullish candle, as buyers entered the market in force. After reaching 3970, short-term profit-taking drove the gold price back to around 3946, where it has been moving sideways. The 15-minute MACD turning green is merely a short-term correction signal; support from the rising channel below remains intact, and it will be difficult for bears to regain the initiative.
Market analysis: The consecutive declines earlier washed out the panic sellers. This rebound is being driven by genuine buying. Keep a close eye on the key support zone at 3920–3926. As long as this level holds, the bulls will finish consolidating and launch another advance. A sustained move above 3970 would open up significant upside. As long as support holds, maintain a firm bullish outlook and do not try to go short.
Trade reference:
✅ Long position: Look to enter if prices pull back to 3920–3926 and stabilize. Set a stop at 3912; the first target is 3960, and the second is a breakout above 3970, with further upside possible
$XAU #XAU
