7.9 Gold Evening Comment: Rebound from lows to strengthen, mainly long positions in the evening



Market review: After the intraday gold price dipped to a low of 4054, it reversed and rallied, with strong bullish buying power pushing the market from weak to strong, showing ample short-term upward momentum.

Technical analysis: On the 1-hour chart, the Bollinger Bands have turned upward, with the upper band at 4119.35 and the middle band at 4080.74. The price has stabilized above the middle band. On the 30-minute chart, the Bollinger Bands are also moving upward in sync, with the upper band at 4129.32 and the middle band at 4089.55. The RSI is in the bullish zone, and the rebound trend is solid.
Short-term resistance: 4119, 4130; support: 4089, 4070.

Coco suggests: In the evening, follow the trend with mainly long positions. Enter long positions in batches in the 4085-4100 range, targeting 4119 and 4130. After a surge meets resistance, consider light short positions. Strictly use stop-losses for all operations.
Disclaimer: The above are only personal views and do not constitute investment advice.
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zhenxin532526
· 07-09 17:06
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