Yesterday, gold oscillated at low levels throughout the daytime session. In the evening, it staged a strong rally, climbing from 3900 all the way to 3970. It then pulled back, reaching a low of 3937 before rebounding. It is currently trading in a range around 3955! Yesterday, we gave more than 10 short-term trade calls, with only 2 losing trades; all the others were profitable, each with a 5-point stop loss! Overall, our calls were very accurate. The current trend still leans toward the upside from relatively low levels!
On the 1-hour chart, after a rapid pullback and sell-off, the price stopped making new lows and formed a flat-bottom consolidation base at low levels. Several consecutive candles have closed as dojis or small bullish candles, indicating that selling pressure from the bears has been completely exhausted. Gold is now holding steadily above the low reached in this pullback, with the lows gradually edging higher. This is a typical bottoming and reversal-build-up structure in the late stage of a decline. The short-term moving averages, which had previously been fanning downward under bearish pressure, are gradually flattening and converging. With the price holding above the short-term moving averages, their resistance has completely turned into support, and a bullish swing structure is beginning to take shape.
Suggestion: Go long on a pullback to 3930, target 3970, with a stop at 3915!
$XAU #提现服务恢复期间警惕诈骗 #美国中期选举倒计时，美股博弈窗口已开启？ #美国10月非农出炉：降息还有戏吗？
On the 1-hour chart, after a rapid pullback and sell-off, the price stopped making new lows and formed a flat-bottom consolidation base at low levels. Several consecutive candles have closed as dojis or small bullish candles, indicating that selling pressure from the bears has been completely exhausted. Gold is now holding steadily above the low reached in this pullback, with the lows gradually edging higher. This is a typical bottoming and reversal-build-up structure in the late stage of a decline. The short-term moving averages, which had previously been fanning downward under bearish pressure, are gradually flattening and converging. With the price holding above the short-term moving averages, their resistance has completely turned into support, and a bullish swing structure is beginning to take shape.
Suggestion: Go long on a pullback to 3930, target 3970, with a stop at 3915!
$XAU #提现服务恢复期间警惕诈骗 #美国中期选举倒计时，美股博弈窗口已开启？ #美国10月非农出炉：降息还有戏吗？
