July 15th, Caifuren – Huangyu Morning Brief

Rebound and upside momentum slows down; treat it as range-bound consolidation in the short term
1. Judging from the current price action, after the gold price probed the low at 3983, it staged a strong rebound. It rose to a high near 4102, faced pressure there, and pulled back. The current price is 4051. On the hourly chart, price is running above the Bollinger midline at 4043; the Bollinger channel is opening upward. Short-term resistance lies at 4090 and 4102, while support is at 4043 and 3996. After the push higher, the bulls’ strength has somewhat weakened, and the market has entered range-bound consolidation.
2. From the news side, the sell-off/rise opportunities brought by yesterday’s weaker CPI data have already been fully digested. Today, there are no major US economic data releases, and the market is in a phase of sentiment rest. The US dollar has slightly stopped falling and rebounded, limiting upside room for gold.
Strategy:
On pullbacks, place orders in the 4040–4020 range for a long move, targeting 4070 and 4090.
Note: The ideas are for reference only and do not constitute any investment advice.$XAUT