The market demonstrated a pattern of sharp rally followed by a pullback and high-level consolidation today, with the 4600–4640 range acting as the core battleground for bulls and bears. This movement is fully in line with our earlier forecast that “price would face pressure at the 4640 resistance and undergo high-level consolidation”.
Resistance Levels:
First Resistance: 4620, a confluent resistance zone formed by the 5-period moving average and the middle band of the Bollinger Bands on the 1-hour chart
Strong Resistance: 4640–4645, a historical high area that serves as the critical dividing line between bulls and bears
Extended Resistance: 4660, a psychological resistance level marked by the round-number threshold
Support Levels:
First Support: 4600, a confluent support level combining the round-number mark and the 10-period moving average (MA10)
Strong Support: 4580–4585, a confluent support zone anchored by the intraday low and the middle band of the Bollinger Bands, also serving as the core defensive line for bulls
Ultimate Support: 4550, a key support level formed by support-resistance flip, which also functions as the ideal zone for medium-term long-position entries
Trading Strategy:
Buy 4610 - 4600
SL 4590
TP 4620 - 4630 - 4640
Sell 4650 - 4640
SL 4660
TP 4620 - 4610 - 4600
Resistance Levels:
First Resistance: 4620, a confluent resistance zone formed by the 5-period moving average and the middle band of the Bollinger Bands on the 1-hour chart
Strong Resistance: 4640–4645, a historical high area that serves as the critical dividing line between bulls and bears
Extended Resistance: 4660, a psychological resistance level marked by the round-number threshold
Support Levels:
First Support: 4600, a confluent support level combining the round-number mark and the 10-period moving average (MA10)
Strong Support: 4580–4585, a confluent support zone anchored by the intraday low and the middle band of the Bollinger Bands, also serving as the core defensive line for bulls
Ultimate Support: 4550, a key support level formed by support-resistance flip, which also functions as the ideal zone for medium-term long-position entries
Trading Strategy:
Buy 4610 - 4600
SL 4590
TP 4620 - 4630 - 4640
Sell 4650 - 4640
SL 4660
TP 4620 - 4610 - 4600
Trade attivo
As we anticipated, gold repeatedly tested the 4580–4585 support zone this morning. After receiving effective buying interest, it gradually rebounded higher, successfully breaking through and stabilizing above the critical 4600 level, with bulls starting to gain strength!
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.