11.3 Luo Yi Huangyu Midday Outlook
Overall Trend: After a sharp overnight rise, prices pulled back to consolidate. They came under pressure and fell during the morning session. This looks like a pullback and shakeout after the rally, not a direct reversal of the bullish trend. Price is now testing key support for this rebound; if it holds, there may still be another chance to push higher.
Market Review: Gold opened at 3949 this morning, rose to 3964 and met resistance, then weakened in choppy trading. The current price is around 3923. On the one-hour chart, price has pulled back to the lower channel line, and candles have continued to close lower. Short-term bearish momentum has emerged, but the ascending channel has not been decisively broken, so this is still a healthy retracement.
Market Analysis: The key zone now is 3916–3920, which is also the morning low. If this support holds, this decline is just a shakeout. After the bulls gather strength, they may still have a chance to rally and challenge the previous high. If price breaks below this level decisively, the rebound will lose momentum, with 3905 as the next downside target. The first short-term resistance above is 3940. The bulls will need to hold above this level to regain the initiative.
Trading Reference:
✅ Long positions: Consider entering if price pulls back to 3916–3920 and stabilizes. Set a stop at 3910, with a first target of 3940 and a second target of 3960.
✅ Short positions: Short-term trades only. Consider entering if a rebound meets resistance near 3940. Set a stop at 3948, with a target of 3920.
Position Management: If you’re already holding long positions, keep a close eye on the 3916 threshold and hold patiently as long as it remains intact. If you’re flat, don’t rush to chase shorts. Price is at a key support zone, and chasing a decline could easily mean selling at the low. Wait for a signal before acting. Pullbacks after a sharp rally can be volatile, with frequent spikes, so wait patiently for signs that price has stabilized. $XAU
Overall Trend: After a sharp overnight rise, prices pulled back to consolidate. They came under pressure and fell during the morning session. This looks like a pullback and shakeout after the rally, not a direct reversal of the bullish trend. Price is now testing key support for this rebound; if it holds, there may still be another chance to push higher.
Market Review: Gold opened at 3949 this morning, rose to 3964 and met resistance, then weakened in choppy trading. The current price is around 3923. On the one-hour chart, price has pulled back to the lower channel line, and candles have continued to close lower. Short-term bearish momentum has emerged, but the ascending channel has not been decisively broken, so this is still a healthy retracement.
Market Analysis: The key zone now is 3916–3920, which is also the morning low. If this support holds, this decline is just a shakeout. After the bulls gather strength, they may still have a chance to rally and challenge the previous high. If price breaks below this level decisively, the rebound will lose momentum, with 3905 as the next downside target. The first short-term resistance above is 3940. The bulls will need to hold above this level to regain the initiative.
Trading Reference:
✅ Long positions: Consider entering if price pulls back to 3916–3920 and stabilizes. Set a stop at 3910, with a first target of 3940 and a second target of 3960.
✅ Short positions: Short-term trades only. Consider entering if a rebound meets resistance near 3940. Set a stop at 3948, with a target of 3920.
Position Management: If you’re already holding long positions, keep a close eye on the 3916 threshold and hold patiently as long as it remains intact. If you’re flat, don’t rush to chase shorts. Price is at a key support zone, and chasing a decline could easily mean selling at the low. Wait for a signal before acting. Pullbacks after a sharp rally can be volatile, with frequent spikes, so wait patiently for signs that price has stabilized. $XAU
