7.16 Gold Afternoon Outlook



The short-term rebound is only a minor correction. There is heavy pressure at 4050-4060. Overall, the market is weak, so it’s preferable to short on rallies first.

There isn’t much fluctuation during the day. The evening Wos hearing may trigger a sharp move; be sure to control your position size.

Short 4040-4050 on the rebound, stop loss at 4060, target 4000-3980. If it pulls back to 4000 and holds, you can take a small-position long, looking for 4040-4060, with stop loss at 3990.

Reminder:
The above analysis is based on Muyao’s personal views. The market changes rapidly; this content is for reference only and does not constitute any investment advice!
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