From the current market perspective, gold has shown an overall trend of bottoming out and stabilizing, with a slightly stronger upward bias. The price has completed its bottoming out and rebound, and the short-term bullish momentum is gradually strengthening. After a deep correction, gold prices found significant support at the $4,000 level, and the bearish momentum was fully released. Buying at lower levels continued to enter the market, pushing gold prices back above the key $4,100 level.
From a technical perspective, the daily chart shows a long lower shadow, indicating strong support below. The short-term center of gravity is gradually shifting upward, and market sentiment has improved somewhat. However, we are still in a rebound phase, and it is more appropriate to participate on pullbacks rather than blindly chasing the rise.
Intraday, key support levels to watch are the $4070-$4050 area, followed by the crucial $4040-$4020 area, which remains a vital defensive position for the bulls. On the upside, the key resistance zone is $4120-$4140; a successful break and hold above this level could open up further upside potential for gold.
From a technical perspective, the daily chart shows a long lower shadow, indicating strong support below. The short-term center of gravity is gradually shifting upward, and market sentiment has improved somewhat. However, we are still in a rebound phase, and it is more appropriate to participate on pullbacks rather than blindly chasing the rise.
Intraday, key support levels to watch are the $4070-$4050 area, followed by the crucial $4040-$4020 area, which remains a vital defensive position for the bulls. On the upside, the key resistance zone is $4120-$4140; a successful break and hold above this level could open up further upside potential for gold.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.