Evening thoughts for July 9th: Gold surges $60 in a violent move! Is a V-shaped reversal officially underway?

Gold staged a textbook V-shaped reversal during the day. After dipping to the 4,054 level in early trading, it stabilized. In the afternoon, bulls pushed strongly, breaking straight through the 4,100 mark to hit a high of 4,117, with a single-day range exceeding $60. The price is currently oscillating and consolidating near 4,106, which is a normal technical pullback after the surge.

From a technical perspective, on the short-term timeframe, the 4,100 level, a previous high-volume zone and psychological barrier, has been effectively breached today. The 10-minute MACD is showing a golden cross with increasing volume, and the moving average system has turned upward forming a bullish alignment, turning the 4,090-4,100 range into strong support. Upward focus is on the 4,120-4,130 resistance zone; if the price holds above it, a new round of upside could open. On the downside, as long as the pullback does not break below 4,090, the bullish trend continues.

Operation reference: Sell in batches on a rebound in the 4,100-4,120 range, targeting 4,080 and 4,050. $XAUT