July 14 Nacai Madam – Huangyu Midday Review

The market has found a bottom and is stabilizing, kicking off a repair and rebound; a window for low-level longs to counterattack is opening
1. Looking back from the order book/pattern, after gold dipped to the 3983 low, it stopped falling and rebounded. Current price is 4021. On the hourly chart, price is temporarily away from the lower Bollinger Band at 3969. After a series of big moves, the upside/downside momentum has been fully depleted. In the short term, rebound demand is strong. Resistance above is 4023 and 4076; the key support below is 3983. Signals of base-building at lower levels are showing.
2. From the news side, the market is waiting for CPI data to provide guidance. The earlier panic selling of the market has largely been absorbed. If the inflation data comes in below expectations, a weaker US dollar will directly support Huangyu’s price to keep rebounding and moving upward.

Strategy:
Pull back to 3985–3965 to go long, with rebound targets at 4040 and 4090.
Note: The above is for reference only and does not constitute any investment advice$XAUT