7.6 Gold Midnight Comment: Low-level rebound met resistance and fell back, midnight range oscillating weakly



The low-long range of 4125-4145 given in the evening successfully caught the rebound. After the gold price surged, it came under pressure and weakened again. The short-term rebound momentum is insufficient, and the overall pattern remains oscillating and weakly biased. The long-term bullish trend has not been completely damaged yet.

Technical aspect: The 1-hour Bollinger Bands are running downward, with upper band 4193.00, middle band 4161.03. Gold price continues to be under pressure below the middle band. The 30-minute Bollinger Bands are contracting and oscillating, with upper band 4162.92, lower band 4134.67. RSI surged and then fell back, with bullish recovery momentum weakening.

Short-term resistance: 4161, 4193; support: 4134, 4110.

Keke's suggestion: In the midnight short-term, prioritize shorting on rebounds. Short around 4160-4180 on rebound, targets 4130, 4110; wait for support at 4110-4134 to stabilize before going long. Strictly use stop-loss throughout.

Disclaimer: The above is only personal opinion and does not constitute investment advice.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned