August 13 CPI data met expectations, and the bullish outlook for gold remains unchanged
The U.S. CPI data was released last night, coming in at 3.4%, fully in line with market expectations. Gold saw a battle between bulls and bears, but ultimately used market momentum to move higher, rising as high as $4,441 before pulling back toward the close and settling at $4,409. Overall, the market remains tilted toward the bulls, with the daily chart forming a bullish candle with an upper shadow
From the four-hour chart, the moving averages are arranged bullishly, with gold rising along the 5MA/10MA and the Bollinger Bands opening upward. Gold is positioned between the middle and upper bands. Although gold reversed after reaching a short-term high of $4,441 on the hourly chart, with a technical bearish divergence appearing, the pullback has been limited. Market sentiment remains broadly bullish on gold, so it may instead enter a period of range-bound consolidation
As gold continues to rise today, bottom support has also moved up to around the $4,395–$4,385 range. Personally, I suggest positioning for upside near $4,395–$4,385, with an upside target of $4,450
The above analysis is for reference only and does not constitute any investment advice. Financial markets are highly volatile, and investing involves risks. Please exercise caution when entering the market. #黄金 #伦敦金 #现货黄金 $XAUUSD
The U.S. CPI data was released last night, coming in at 3.4%, fully in line with market expectations. Gold saw a battle between bulls and bears, but ultimately used market momentum to move higher, rising as high as $4,441 before pulling back toward the close and settling at $4,409. Overall, the market remains tilted toward the bulls, with the daily chart forming a bullish candle with an upper shadow
From the four-hour chart, the moving averages are arranged bullishly, with gold rising along the 5MA/10MA and the Bollinger Bands opening upward. Gold is positioned between the middle and upper bands. Although gold reversed after reaching a short-term high of $4,441 on the hourly chart, with a technical bearish divergence appearing, the pullback has been limited. Market sentiment remains broadly bullish on gold, so it may instead enter a period of range-bound consolidation
As gold continues to rise today, bottom support has also moved up to around the $4,395–$4,385 range. Personally, I suggest positioning for upside near $4,395–$4,385, with an upside target of $4,450
The above analysis is for reference only and does not constitute any investment advice. Financial markets are highly volatile, and investing involves risks. Please exercise caution when entering the market. #黄金 #伦敦金 #现货黄金 $XAUUSD
