7.2 Morning Gold Analysis

Yesterday, gold surged and then encountered concentrated profit-taking by bulls, falling sharply from the high of 4115 to around 4004. It consolidated slightly at the end of the session, closing at 4031. The previous uptrend has been reversed, and there is clear pressure at the high levels.

In the short term, the 15-minute chart has formed a standard downward structure, with highs and lows continuously declining. Currently, there is a weak rebound around 4035, with weak upward momentum. Above, 4040‑4045 are short-term resistance, and 4060 is a strong resistance; below, 4030 is short-term support, and 4005 is a key level for this round of correction. The bears dominate the market, and rebounds are opportunities to short.

On the news front, focus on the evening US initial jobless claims data. If it is bullish for the dollar, it will continue to pressure gold prices. The weakness in US stocks has not triggered safe-haven buying in gold. The market is purely technically weak, with bears in control.

Operation Strategy

Rebound to 4050‑4065, short in batches

Target first at 4020, 4000; if broken, directly see 3960#黄金