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7.10 Jinglu Midday Gold Brief
After gold surged to test 4141.8, the bullish momentum lacked follow-through and continued to face pressure in the high range. Profit-taking near 4140 kept exiting, halting the upward momentum. After the surge, the market oscillated back and forth, making it difficult for bulls to push higher. The center of gravity of the chart is gradually shifting downward, and the probability of a short-term pullback correction is high.
Trading Suggestions
Short 4140-4160
Target range 4020-4000$XAU