4.9 Initial Morning Gold Analysis
Yesterday, gold continued its trend of fluctuating downwards, with prices consistently retreating from the morning high around 4857, testing the lower support multiple times throughout the day, ultimately stabilizing briefly near the 4700 level. From the current perspective, prices have been moving along the lower track, with the Bollinger Bands continuously opening downwards, and the moving average system showing a bearish arrangement, with bearish forces dominating the day’s market. Although there was a slight rebound at the end of the session, it did not change the overall downward trend.
Although a temporary ceasefire was reached between the US and Iran, the situation remains extremely unstable. Sudden news such as Israeli airstrikes in Lebanon and Iran threatening to close the Strait of Hormuz has led to erratic risk-averse sentiment, causing gold prices to plummet significantly at the end of the session, erasing most of the gains.
From a technical perspective, after three consecutive daily declines, bearish momentum is weakening, with RSI nearing oversold levels and KDJ forming a golden cross at low levels, indicating a short-term need for correction. Key support levels are 4680-4650, with strong support at 4600.
Gold is set to adjust to the range of 4670-4685 for long positions, targeting upward movements at 4750-4780! #加密市场反弹 $BTC $ETH $XAU
Yesterday, gold continued its trend of fluctuating downwards, with prices consistently retreating from the morning high around 4857, testing the lower support multiple times throughout the day, ultimately stabilizing briefly near the 4700 level. From the current perspective, prices have been moving along the lower track, with the Bollinger Bands continuously opening downwards, and the moving average system showing a bearish arrangement, with bearish forces dominating the day’s market. Although there was a slight rebound at the end of the session, it did not change the overall downward trend.
Although a temporary ceasefire was reached between the US and Iran, the situation remains extremely unstable. Sudden news such as Israeli airstrikes in Lebanon and Iran threatening to close the Strait of Hormuz has led to erratic risk-averse sentiment, causing gold prices to plummet significantly at the end of the session, erasing most of the gains.
From a technical perspective, after three consecutive daily declines, bearish momentum is weakening, with RSI nearing oversold levels and KDJ forming a golden cross at low levels, indicating a short-term need for correction. Key support levels are 4680-4650, with strong support at 4600.
Gold is set to adjust to the range of 4670-4685 for long positions, targeting upward movements at 4750-4780! #加密市场反弹 $BTC $ETH $XAU