Product: Gold

Code: XAUUSD

Tuesday Gold: Downward

1、Market Direction

On the 4-hour chart, gold fell to around 4450 yesterday, indicating that the price action has been continuing to move from the upper band of the Bollinger Bands down to the lower band of the Bollinger Bands. At present, it is only receiving support near the middle band of the Bollinger Bands, undergoing a brief correction. With the 10-day moving average line acting as resistance, and the three Bollinger Bands lines running in parallel, the probability that gold will keep falling is high, and it may drop to around 4390 near the lower band.

2、Specific Signals

On the 15-minute chart, after gold dropped to 4447, the market continued to rebound and then maintained a sideways adjustment without breaking through the resistance of the left-side high point at 4512 before the sharp selloff. The current market continues to form lower highs and lower lows, and the bearish structure remains. Therefore, before 4512 is broken, the bearish logic can be maintained.

Conservative approach: Short if it breaks below 4443, stop loss 4453, targets 4420/4400/4375

Aggressive approach: Short on the rebound at 4510, stop loss 4520, targets 4498/4462/4434

Aggressive approach: Short if it breaks below 4460, stop loss 4470, targets 4440/4420/4400$XAUUSD #黄金