July 8 Mrs. Nacai - Goldfish Midday Review

After bottoming out, short-term repair rebound, downside pace briefly slows
1. From the market review, gold prices stopped falling and rebounded after hitting a low of 4092, and are now consolidating at 4124 in midday trading. The hourly price rebounded from the lower Bollinger Band around 4089 towards the middle Bollinger Band at 4129, indicating a weakening short-term bearish momentum. Bottom-fishing funds have entered, bringing a technical bounce, but the overall moving averages remain downward, and the larger trend has not fully reversed. Short-term resistance above is at 4129 and 4170, with support below at 4089.
2. From a news perspective, the U.S. dollar briefly edged lower, giving gold prices room to rebound. However, market bullish confidence has not fully recovered, and with a lack of major positive catalysts, this bounce is likely just a corrective move within the downtrend.
Strategy:
Go long on pullbacks to 4110-4090, targets 4130, 4150.
Note: The analysis is for reference only and does not constitute any investment advice. #黄金 #外汇黄金