9、9/16 Morning Market Outlook and Strategy
After opening slightly lower in the morning, the market fluctuated downward. Moving averages on the one-hour timeframe are intertwined and converging, while the 5-, 10-, and 20-day moving averages form a resistance zone above the price. Short-term bulls and bears are engaged in intense competition, with the overall market fluctuating within a low-range consolidation pattern and no clear one-way direction.
Short-term resistance above is 4288-4291 (20-/10-day moving averages), while the intraday high of 4299 is strong resistance; the first support below is 4280.6, with the key defensive support at the previous low of 4253.59. Once it breaks below this level, further downside correction will open up.
After the previous decline, the market has entered a period of sideways consolidation, with limited rebound strength. This is a sideways consolidation following a decline, and a breakout is needed to determine the subsequent direction.
Recommendation
Long at 4278-4257, stop loss below 4252, target 4288-4310, #黄金 $XAUT

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