GoldTradingAnalysis

Gold (XAU) Detailed Analysis #交易CFD送黄金
(1) 4-hour cycle, moving around a downward channel with 3 waves (green arrows) downward, currently has not reached the target zone of 4384, so short-term remains bearish;
(2) The evening decline reached 4400, which is the 61.8% retracement level of the rise from 4098 to 4889, reaching a strong support area;
(3) The 3-wave decline's 100% target, 61.8% retracement level, and the lower boundary of the downward channel all fall within the 4400-4384 range, so 4400-4384 is a strong resonance support;
(4) Therefore, the 4400-4384 zone is a non-bullish zone, not