July 16 Na Cai Madam – Huang Yu Morning Brief

The support at the bottom of the range is firm, with short-term choppy oscillation trending slightly on the “fearful side”
1. Looking back at the charts: After gold probed the low at 4013 and stabilized, it rebounded. Current price is 4061. The hourly chart is holding above the Bollinger middle band at 4044. The Bollinger Bands are gradually flattening overall. Key supports below are 4015 and 4003. Short-term resistances above are 4073 and 4103. The “mysterious nine-turns” low-level bullish signal has played out, and the buy-side support below is strong.
2. From the news side: Yesterday’s US initial jobless claims data boosted the dollar, which had largely been digested as bearish sentiment. The market is waiting for further inflation data guidance. The pace of the dollar’s rise has slowed, weakening near-term pressure on gold. At low levels, there are conditions for a corrective rebound upward.

Strategy:
Pull back into the 4040–4015 range to go “duo” with a target of 4070, 4090.
Note: The ideas are for reference only and do not constitute any investment advice. $XAUT