Mu Yao: 7.3 Evening Gold | Big bullish reversal, pullback is an opportunity

The daily closing printed a full-bodied bullish candle, reversing the sluggish trend in the prior period. The short-term market has officially switched to a bullish rhythm, and overall indicators are improving in sync.

On the four-hour chart, price is consolidating in a sideways range at high levels. The intraday upside momentum has largely been realized, and short-term indicators are already overbought. In the evening, there is a high likelihood of a small pullback to repair.

In terms of strategy: when price pulls back to the 4150-4160 support zone, set up bids (place orders) there. Look to 4200-4220 on the upside, and set the stop loss at 4140.

Tips:
The above analysis is Mu Yao’s personal analysis. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
$XAUT