July 8 - Lady Nacai - Yellow Fish Late Night Commentary

After a continuous sharp decline, prices stabilize slightly at low levels, with short-term repair needed.

1. From a market review, gold prices started a continuous decline from the high of 4202, dipping to a late-night low near 4039, currently oscillating at 4039.57. On the 4-hour chart, the Bollinger Bands are trending downward, with the price dropping to around the lower band at 4052. After a short-term oversold condition, bearish momentum has been fully released. The previous low at 3943 provides medium-term support. Short-term resistance levels above are at 4132 and 4212, while key support below is at 4052.

2. From a fundamental perspective, the pressure from a strong USD has largely been realized for the time being. Short-term bearish sentiment in the market has been exhausted, and the medium-to-long-term logic of interest rate cuts has not fundamentally changed. After the sharp drop, buying demand is gradually emerging at low levels, and a technical rebound and repair are likely during the night.

Strategy:
Long at 4040-4035, initial target 4080, then 4120.

Note: The above is for reference only and does not constitute any investment advice. #黄金