July 9 Nacai Madam - Yellow Fish Midday Review

Low-level oscillation with slight rebound, short-term repair market still under pressure
1. From the market review, after gold price initially fell to the low of 4021, it has been oscillating at low levels. At noon, the current price is 4062.31, a slight recovery. The hourly Bollinger Bands are gradually narrowing, with the price hovering around the middle band at 4064. After oversold conditions, bearish momentum has clearly slowed, and a short-term technical repair is underway. However, the overall moving averages remain downward, and the long-term bearish trend has not reversed. Short-term resistance above is at 4091 and 4180, support below at 4038.
2. From the news perspective, the US dollar has slightly retreated from highs, briefly providing room for gold to rebound. However, the overall market bearish sentiment has not dissipated, and there is a lack of significant bullish data support. This rebound is only a minor consolidation during the downtrend, with limited upside.
Strategy:
Pull back to 4040-4030 to go long, target 4080, 4100.
Note: The ideas are for reference only and do not constitute any investment advice. $XAUT