July 14th Na Cai Madam – Huangyu Evening Review

Stabilize at low levels, range-trade to repair; CPI landing may trigger a broad-based bull rebound
1. Looking back from the chart, after gold probed the low at 3983, it has continued to range and repair at low levels. The current price is 4020. The hourly chart has held above the lower Bollinger band at 3990. Downside momentum has basically been exhausted, and the short-term sell-off signals are clearly fading. The first resistances above are 4011 and 4032. Key supports below are 3990 and 3983. After a big drop, the repair pathway is gradually taking shape.
2. From the news side, a major U.S. CPI inflation data release is scheduled for the evening. If the inflation data cools, rate-cut expectations will heat up; the dollar will be under pressure and pull back, which will strongly boost gold bulls. Even if the data is on the strong side, the prior decline in gold has been sufficient, so the downside room is also very limited.
Strategy:
Buy dips in the 3980-3990 range, place gold-bull orders, with rebound targets at 4040 and 4100.
Note: The ideas are for reference only and do not constitute any investment advice. #黄金 $XAUT