Daytime targets are met—what should you do in the evening?
This morning, the gold price opened at $4,117. It edged up slightly during the Asian session to $4,140, then turned lower. Afterwards, in the European session it continued to fall, making a new intraday low. As of now, the lowest has dropped to $4,079, for a total intraday decline of $80.
On the four-hour level, the gold price has turned downward. It is currently trading near the middle band of the Bollinger Band, with a trend of breaking below the middle band. In the moving average system, the price has directly broken through the 20MA support. The MACD indicator’s red histogram has turned green, and the KDJ’s three lines are running downward. Overall, the market remains weak.
For evening trading, focus short-term on the $4,100 resistance overhead. If the gold price rebounds to around $4,100 in the evening, you can place a light position to go short, targeting around $4,050, the next support level.
The above analysis is for reference only and does not constitute any investment advice. Financial market volatility is high; investing involves risk, and you should be cautious when entering the market. $XAUUSD
This morning, the gold price opened at $4,117. It edged up slightly during the Asian session to $4,140, then turned lower. Afterwards, in the European session it continued to fall, making a new intraday low. As of now, the lowest has dropped to $4,079, for a total intraday decline of $80.
On the four-hour level, the gold price has turned downward. It is currently trading near the middle band of the Bollinger Band, with a trend of breaking below the middle band. In the moving average system, the price has directly broken through the 20MA support. The MACD indicator’s red histogram has turned green, and the KDJ’s three lines are running downward. Overall, the market remains weak.
For evening trading, focus short-term on the $4,100 resistance overhead. If the gold price rebounds to around $4,100 in the evening, you can place a light position to go short, targeting around $4,050, the next support level.
The above analysis is for reference only and does not constitute any investment advice. Financial market volatility is high; investing involves risk, and you should be cautious when entering the market. $XAUUSD
