7.10 Evening Trading Plan: Gold cliff-dives—$40 plunge from the top! A life-and-death battle around the 4100 level between longs and shorts

Today’s gold early session continued its strong momentum, pushing higher. At one point, it even touched the 4134 high. The bulls were riding high. However, it didn’t last. After the midday session, the bears struck with force, and gold began a one-way plunge. In just a few hours, it dropped nearly $40, with the low dipping to around 4094. The bulls were wiped out brutally, and market sentiment shifted sharply toward caution.

Technically, on the 10-minute timeframe, after price broke below the Bollinger middle band, it accelerated lower. It is currently finding a brief support around 4094. The MA moving averages are aligned bearishly; the MACD green histogram has expanded, and short-term downside momentum remains strong. The 4120-4130 area above has become a heavy resistance zone, while support to watch lies at 4090-4080.

Trading reference: On rebounds, sell in batches within the 4110-4130 range, targeting 4100 and 4080. $XAUT