July 8 Mrs. Nacai - Yellow Fish Evening Review

Big bearish candle breaks support to new low, continues downward. Bearish trend fully dominates the market.
1. From the market review, gold price surged to the 4180 level and then weakened continuously, with a large volume drop in the evening, refreshing a new low at 4040, current price 4052, slightly sideways. Hourly Bollinger Bands open significantly downward, price firmly under pressure below the middle band 4106, moving averages are bearishly arranged, suppressing all rebounds, bulls have no strength to resist, downward space is fully opened. Short-term resistance above at 4106 and 4167, support below at 4045.
2. From the fundamental side, the US dollar index continues to strengthen, pressuring precious metals. Market rate-cut expectations are continuously delayed. Funds are fleeing concentrated long positions in gold. There are no substantial bullish news in the short term, and the downward trend is difficult to reverse in the near term.
Strategy:
Short at 4100-4106, initial targets 4030, 4000.
Note: This analysis is for reference only and does not constitute investment advice. #黄金