7.14 Morning Gold Market Analysis



The gold price continues its downward trend. During the session, it briefly dipped to 3,986.62 at the lowest point, and the current quote is 4,003.58. On the hourly cycle, the price has deviated significantly below the lower Bollinger Band near 3,979. Short-term bearish momentum has been fully released. After oversold conditions, the need for rebound and repair is strong.

On the news front, the previous phase of concentrated selling has largely run its course. Tonight, the highly anticipated U.S. CPI inflation data will be released. If the inflation data comes in below market expectations, gold will likely see a sustained rebound and repair phase.

Gold: Go long in the 3,980–4,000 range, target 4,040, with a second target at 4,100. $BTC $XAU
BTC-0.17%
XAU-0.81%
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