Gold Market Midday Analysis 7.10



After the previous surge and subsequent decline, 4183 is a major strong resistance level. The 4-hour chart shows a bottom formation and rebound, but the overall downtrend has not reversed.

The current sideways consolidation is merely a recovery and consolidation after the decline, and it is unlikely to directly reverse the previous weak trend.

The 4-hour bearish momentum continues to weaken, and the probability of a decline followed by a test of resistance to the upside is very high. Avoid blindly chasing higher prices and getting trapped.

Gold (current price 4123):

Short sell in the 4145-4183 range, main target 4080, break below to 4024; Buy on a dip to 4024-4080 with stabilization, target 4145-4183, stop loss at 4000.
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CryptocurrencyAnalysis
· 07-10 04:47
DYOR 🤓
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