10.13 Jingyi’s Gold Outlook
Gold pulled back again, opening at 4170 in the early session, reaching a high of 4175 and dipping to around 4153. With tensions in the Middle East escalating, gold prices retreated again after repeatedly testing lows and rebounding. Bears have the technical advantage, but avoid chasing short positions at low levels. Focus on the short-term support at 4150 and strong support at 4135; if support holds, long positions can be established.
On the 4-hour timeframe, short-term resistance above is at 4175, with key resistance at 4217–4223; short-term support below is at 4150, with core support at 4135. Overall, the market remains in a consolidation phase. Wait patiently for the right levels and do not rush to enter.
Trade Recommendations
Establish long positions at 4150–4155, add to longs on a pullback to 4135, set a stop-loss at 4129, and target 4187–4190. If the level breaks, look toward 4217 and continue holding after the breakout.
Gold pulled back again, opening at 4170 in the early session, reaching a high of 4175 and dipping to around 4153. With tensions in the Middle East escalating, gold prices retreated again after repeatedly testing lows and rebounding. Bears have the technical advantage, but avoid chasing short positions at low levels. Focus on the short-term support at 4150 and strong support at 4135; if support holds, long positions can be established.
On the 4-hour timeframe, short-term resistance above is at 4175, with key resistance at 4217–4223; short-term support below is at 4150, with core support at 4135. Overall, the market remains in a consolidation phase. Wait patiently for the right levels and do not rush to enter.
Trade Recommendations
Establish long positions at 4150–4155, add to longs on a pullback to 4135, set a stop-loss at 4129, and target 4187–4190. If the level breaks, look toward 4217 and continue holding after the breakout.
