10.16 Gold maintains the upward trend in the Asian session!!!From a multi-period analysis perspective, first observe the monthly chart's rhythm. From a long-term perspective, 3130 represents a watershed in the long-term trend. Above this level, consider a long-term bullish approach. From a weekly perspective, the current bull-bear watershed is 3585. Above this level, consider a medium-term bullish approach. From a daily perspective, focus on the 3997 support area for now. Above this level, consider a short-term bullish approach. From a four-hour perspective, which we've consistently emphasized, support currently lies at 4175. Above this level, consider a short-term bullish approach. On an hourly basis, prices are also currently bullish, but short-term divergence is occurring. Therefore, be mindful of short-term bullish risks in the event of further upward movement. Meanwhile, today's early trading session saw another surge in gains, with the early morning low serving as a watershed for the day. Above this level, consider a short-term bullish approach. Focus on the 4235-4266 area as an upward move.
Gold's Asian session low of 4199.73 marks the intraday watershed. Above this level, bullish momentum is expected to continue. (Also, a divergence is occurring in the hourly chart, so be aware of the risks associated with a short-term rally.)
