From TradingView · · 40s
Gold Trading Strategy for October 8-9
Gold price rebound above key moving averages on 4-hour chart, targeting 4190-4219 if breaks 4168 resistance.
In brief
Gold price rebound above key moving averages on 4-hour chart, targeting 4190-4219 if breaks 4168 resistance. Gold price rebounded above moving averages on October 8-9, with potential to reach 4190-4219 if it breaks 4168 resistance. Originally reported by TradingView.
Gold Rebound on 4-Hour Chart
Price moved back above MA5 at 4128, MA10 at 4120, and MA20/Bollinger Band midline at 4132.
Key Resistance at 4164-4168
First upside target aligns with previous resistance and upper Bollinger Band.
Short-Term Bullish Momentum
Price broke above MA5, MA10, and MA20 on 1-hour chart, forming short-term bullish alignment.
Trading Strategy for Gold
Buy on pullbacks to 4128-4132 targeting 4145 and 4164; short if price rallies to 4160-4168.
The one thing
Gold price rebounded above moving averages on October 8-9, with potential to reach 4190-4219 if it breaks 4168 resistance.
