7.15 Gold Evening Review



The intraday morning session’s low-level buy-the-dip plan was perfectly executed. The predicted oversold rebound fully matched the market action. After gold probed the low at 4017, it rebounded and rose again. Longs entered at the low level successfully took profit. The short-term repair move unfolded as scheduled.

Technical outlook: In the 30-minute Bollinger Bands, the upper band is 4037.91 and the middle band is 4030.26. Gold has held above the middle band, and RSI has risen into a slightly bullish range. In the 1-hour Bollinger Bands, the bands are tightening; the upper band is 4069.77 and the middle band is 4043.55. Price is supported by the middle band and is consolidating and rebounding.

Short-term resistance: 4043, 4069.
Short-term support: 4022, 4017.

KeKe advises: On the rebound around 4060-4080, sell in batches, targeting 4040 and 4020. Place a strict stop-loss.

Disclaimer: The above is only my personal opinion and does not constitute investment advice.
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