Daily Gold, Morning Session (11/10):
(Daily Gold is only a personal intraday short-term analysis and forecast, and should not be used as a basis for copy trading. Trading involves risk, so please prioritize risk management!)
Gold finally surged to 4150 yesterday, increasing the likelihood of further gains.
The next target for gold should be around 4280. The resistance levels it needs to break through are 4150, 4170, 4200, 4230, and 4260, followed by 4280.
That’s the bullish direction!
But we need to take it one step at a time, because it’s impossible to know where the bears might suddenly gain momentum—unless the rise is very strong.
After all, 4150 has not yet been broken!
Today, if you want to bet on a breakout above 4150, you could test it once around 4108 with a stop-loss.
If that level doesn’t hold, today may be a day of pullback, potentially reaching as low as around 4040.
Recently, the market hasn’t been suitable for holding positions: neither bulls nor bears have a good long-term entry point.
Focus on short-term trading—sell high and buy low!
Note that CPI data is due at 21:30 tonight. Be sure to manage your risk!#XAUUSD $XAU
(Daily Gold is only a personal intraday short-term analysis and forecast, and should not be used as a basis for copy trading. Trading involves risk, so please prioritize risk management!)
Gold finally surged to 4150 yesterday, increasing the likelihood of further gains.
The next target for gold should be around 4280. The resistance levels it needs to break through are 4150, 4170, 4200, 4230, and 4260, followed by 4280.
That’s the bullish direction!
But we need to take it one step at a time, because it’s impossible to know where the bears might suddenly gain momentum—unless the rise is very strong.
After all, 4150 has not yet been broken!
Today, if you want to bet on a breakout above 4150, you could test it once around 4108 with a stop-loss.
If that level doesn’t hold, today may be a day of pullback, potentially reaching as low as around 4040.
Recently, the market hasn’t been suitable for holding positions: neither bulls nor bears have a good long-term entry point.
Focus on short-term trading—sell high and buy low!
Note that CPI data is due at 21:30 tonight. Be sure to manage your risk!#XAUUSD $XAU