Muyao: Gold’s upward momentum is fading; focus mainly on a range-bound “sell near the upper range” approach

After gold prices surged yesterday and then pulled back under pressure, the market is currently repeatedly oscillating around the Bollinger middle band. The trading range path previously forecast has been playing out as expected.

The Bollinger Bands continue to tighten, compressing the available space for short-term price fluctuations. There is clear upside resistance for gold, and bullish momentum keeps weakening.

Market longs’ profit-taking positions have been gradually exiting, applying pressure on gold prices. At the moment, there is a lack of a major catalyst that could break the pattern, so the market remains in a box-range consolidation structure.

**In terms of trading:**
On a rebound to the 4140-4160 zone, place orders in batches in the “sell near the highs within the range” area (do dan). Set the stop loss above 4130. For the short term, first look at 4200-4220; after a breakout, target 4300.

**Note:**
The above analysis is Muyao’s personal analysis. The market can change rapidly; the content is for reference only and does not constitute any investment advice!
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