10/9: Sell Orders Above 4050 Profited, Watch Support Around 4000In yesterday’s session, we clearly indicated that if gold breaks above 4050, traders should look for short opportunities — and this move has indeed delivered impressive profits.
At present, the price is testing the 30-minute chart support area, though it is relatively weak. The key support zone lies on the 1-hour chart, around 4000–3990.
From a strategic perspective, if the rebound fails to break above 4038, it signals weakening bullish momentum. In this case, selling near the highs remains the preferred approach while monitoring support around 4011–4000. If the support holds, short-term buying opportunities may arise.
Be cautious when heavy selling pressure appears — close short-term positions promptly. Traders may choose to adopt a scalping approach for quick profits or consider a medium-term long position, though the latter requires stronger account capacity and risk tolerance.
