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Midnight Gold: Overbought Top, Confident in a High-Altitude Rise
Gold Digger Old Cat 2026-04-24
The market has no 100% certainty, only probability betting; we look for advantages within the rules to tilt the win rate in our favor.
The midnight session continues the rebound rhythm, with the price breaking above the 1-hour Bollinger middle band, releasing bullish momentum, but the CCI indicator has already entered the overbought zone, making chasing longs highly unprofitable. Currently, there are no signals of a trend reversal, and the main idea remains to stay bearish.
Key resistance zone above, the first resistance at 4724-4730, can consider building short positions in parts when touched, with stops above the intraday high, targeting first at 4700-4695. The second resistance at 4735-4740, in case of extreme spike, can add to short positions, with stops above, targeting 4685-4680. Support below is for reference only, not for active long positions; if the price falls back and breaks below around 4690, bearish momentum will further release, and it’s advisable to add to shorts accordingly.
This content is only a personal trading idea sharing and does not constitute any investment advice. The market carries risks; trading should be cautious.