Gold Next Week Trend Analysis (July 4)

Core Views

1. Major Trend Judgment: On the daily timeframe, gold is still in a downward channel. The current rebound is merely a repair after oversold conditions, not a trend reversal. A valid breakout above the $4400 level is needed to confirm the end of the downtrend.
2. Short-term Outlook: Next Monday, gold is likely to continue its rebound. A breakout above the $4200 level will open further upside space, targeting the $4230-$4260 area. If it falls below the $4100 support, the rebound may end, and timely adjustment of strategy is required.
3. Key Levels:
Resistance: $4200, $4230-$4260
Support: $4100

This Week's Market Review

This week, gold formed a stepwise upward trend starting Wednesday, driven by Fed officials' speeches and weaker-than-expected nonfarm payroll data. The price rebounded from around $4115 to above $4145. On Friday, the strong trend continued, with lows gradually rising and highs continuously breaking, forming a steep upward trendline.

Trading Suggestions

1. Bullish Approach: Before the $4100 support is effectively broken, you can initiate long positions near this support level, with a stop loss below $4090 and a first target of $4200. After a breakout, you can hold and look for $4230-$4260.
2. Bearish Approach: If gold encounters resistance in the $4230-$4260 area, you can initiate a small short position, with a stop loss above $4270 and a target of $4180-$4150.
3. Risk Warning: Next week, attention should be paid to the impact of U.S. economic data, Fed officials' speeches, and other factors on gold prices. Strictly control positions and practice risk management.

Important Disclaimer: The above analysis is solely personal opinion and does not constitute any trading advice. Investing involves risks; enter the market with caution.
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