7.7 Midday Gold Market Analysis - Shi Yuan's Views

The bull rally came to an abrupt halt, and bearish selling pressure continues to be released?!
Gold consolidated sideways yesterday, surging to a high of 4204 before facing resistance and closing with a long upper shadow bearish candle; the price quickly plunged to a low of 4128, forming a standard bullish-to-bearish reversal pattern on the 4-hour chart. Short-term bullish momentum has completely dried up, and bears continue to weaken with sustained selling.

The current upward structure is completely damaged. After the sharp spike and crash, any rebounds are merely corrective traps to lure bulls, with layers of resistance above. Any rebound is an opportunity to go short. The key resistance is at 4170; if it fails to hold firmly, the downtrend will continue. The strategy is to follow the trend and short from highs, and not blindly buy the bottom until a stabilization signal appears at lower levels. Chasing highs and getting trapped is strictly prohibited.

Gold → Current 4141
Resistance: 4170, 4204, Support: 4128, 4100

Trading Suggestions:
1. Enter a light short position on resistance at 4160-4170, stop loss above 4204, targets 4140 → 4128 → 4100.
2. If it pulls back near 4100 and shows stabilization and support, add long positions in batches, stop loss at 4085, target a rebound toward 4150; do not overweight bottom-fishing without stabilization.$BTC $ETH