Mu Yao: 7.6 afternoon gold— the bottom stabilizes and rebounds; pullbacks are mainly opportunities to go long



The weekly chart has bottomed and rebounded for two consecutive weeks. Bottom support has been established, and the overall rebound trend remains unchanged. The current price has not yet firmly held above the 4200 level; there may be a short-term pullback to shake out positions. Do not chase after rising prices.

The daily price action has strengthened. Prices break through the prior support range, and the moving-average golden cross indicates ample bullish momentum. The market is highly likely to pull back to confirm support before moving higher again. In the 4-hour chart, gold holds steadily above the short-term moving averages, and the short-term bullish structure is intact.

On trading:
Wait for a pullback in the 4120-4130 range to place additional long orders. Upside target: 4200-4220. Set the stop loss at 4110.

Notice:
The analysis above is Mu Yao’s personal analysis. The market changes rapidly. The content is for reference only and does not constitute any investment advice!
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Lemon-FlavoredStopLoss
· 14h ago
The 4120–4130 range really looks comfortable—golden cross of moving averages plus a weekly double bottom. If this pullback can hold steady, then a breakout above 4200 could be in the cards. Setting the stop loss at 4110 is quite reasonable, after all, there’s still weekly support underneath propping it up. Following it—following it 🚀
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