7.9 Gold Morning Market Analysis

Gold surged to a high of 4,202 earlier before a cliff-like decline, with bearish pressure concentrated. The price touched a low of 4,003 on the chart, falling over 200 points in just a few days. The bearish momentum has been largely exhausted, and the demand for a rebound from oversold conditions has emerged.

The 4-hour chart shows a long lower shadow bullish candle, with gold stabilizing above the 5-day moving average. This is the first clear stop-loss signal after this round of sharp decline, providing sufficient conditions for a short-term rebound.

The 4,003 level forms a strong bottom support. Selling pressure has weakened upon reaching this level, and buying demand is strong, making it difficult to break down again in the short term. Below, layered support levels are at 4,038 and 4,066. Pullbacks to these support zones can be used to build long positions, with limited downside and more attractive profit margins for a rebound.

Gold: Long in the 4,020-4,040 range, $BTC target 4,070-4,090.