July 7 Mrs. Nacai - Yellow Fish Midday Commentary

After a surge, it faced resistance and continued to weaken, with short-term bearish forces dominating the market.
1. Looking back at the market, gold prices surged to 4168 in early trading, then turned downward, and are now oscillating at a low of 4129 at midday. The 5-minute Bollinger Bands have been opening downwards throughout, with gold prices persistently under pressure below the Bollinger middle band at 4132. Multiple small rebounds have failed to break through the moving average resistance, selling momentum continues to release, highs are constantly lowering, and the weakness pattern is clear. Short-term upper resistance is at 4132 and 4139, while lower support is at 4124.
2. From the news perspective, the U.S. dollar maintained a relatively strong oscillation during the day, suppressing the rebound space for gold prices. After the previous correction absorbed bullish factors, buying interest in the market is low. With a lack of short-term bullish news stimulation, the correction trend may continue.
Strategy:
Rebound to 4160-4140 for short positions, with targets first at 4120, then 4100.
Note: The ideas are for reference only and do not constitute any investment advice. #黄金