The US and Iran are reportedly resuming negotiations, and crude oil fell 5% in a day
Inflation expectations eased along with it, and gold was quickly pushed higher
This is a news-driven rebound, not a reversal❗
Friday’s major nonfarm payrolls report: the second-biggest turning point
It will directly revise expectations for a December rate hike
2 key resistance levels:
1️⃣ 3970–3980: Yesterday’s rebound high. If gold can’t get above this level before the US session today, this rebound will most likely fail, followed by another test of the lows
2️⃣ 4080–4090: The medium-term bull-bear dividing line. Until gold holds above this level, all rallies are just rebounds within a downtrend
A 1-hour double top (3970–3980), with a neckline at 3905. A break below it would accelerate the decline; the bearish structure remains dominant.
Looking lower, there isn’t much room left below $3700–3800, and the conditions for a sustained crash aren’t there. Don’t panic and sell at a loss—emotional sell-offs often mean selling near a short-term bottom.
The midterm elections change Congress, not the president, and they can’t change gold’s weak structure.
📌 My outlook:
Short term: Watch 3910–3890; consider going long
Stop-loss: previous low at 3880
Medium to long term: Gold has entered value territory. Buy in batches as it falls; there’s no need to pick the exact bottom
Do you think it will break below the previous low of 3880? 👇
#黄金下跌 #Xau #BTC走势分析
Inflation expectations eased along with it, and gold was quickly pushed higher
This is a news-driven rebound, not a reversal❗
Friday’s major nonfarm payrolls report: the second-biggest turning point
It will directly revise expectations for a December rate hike
2 key resistance levels:
1️⃣ 3970–3980: Yesterday’s rebound high. If gold can’t get above this level before the US session today, this rebound will most likely fail, followed by another test of the lows
2️⃣ 4080–4090: The medium-term bull-bear dividing line. Until gold holds above this level, all rallies are just rebounds within a downtrend
A 1-hour double top (3970–3980), with a neckline at 3905. A break below it would accelerate the decline; the bearish structure remains dominant.
Looking lower, there isn’t much room left below $3700–3800, and the conditions for a sustained crash aren’t there. Don’t panic and sell at a loss—emotional sell-offs often mean selling near a short-term bottom.
The midterm elections change Congress, not the president, and they can’t change gold’s weak structure.
📌 My outlook:
Short term: Watch 3910–3890; consider going long
Stop-loss: previous low at 3880
Medium to long term: Gold has entered value territory. Buy in batches as it falls; there’s no need to pick the exact bottom
Do you think it will break below the previous low of 3880? 👇
#黄金下跌 #Xau #BTC走势分析
