7.6 Monday Morning Gold Outlook

The dividend from the rate cut expectations brought by the previous non-farm payrolls is gradually being digested. Today, the US dollar and US Treasury yields have rebounded slightly, raising the holding cost of non-yielding gold and putting pressure on gold prices. Although global central banks continue to hoard gold and physical demand underpins the downside, short-term bulls have a strong desire to take profits. The rebound is only a phased recovery after an oversold decline, and there is no momentum for a unilateral sustained rally.
Technically, the 4200-4220 area is a strong resistance level, with multiple rallies failing to hold, leading to concentrated trapped long positions and selling pressure. The core support below is 4140-4100, with 4100 serving as a short-term bull/bear demarcation line; a break below would deepen the pullback. The four-hour indicators have turned down from overbought territory, and bullish momentum is clearly waning.
Operation suggestion: short at 4185-4200, target 4165, break below see 4140, if not broken, go long. $BTC $ETH $SOL