7.16 Gold Evening Outlook

Today, the gold price continues to fall to 4030. Bearish momentum is strong, and short-term indicators have entered oversold territory. Don’t rush to bottom-pick—waiting for a rebound before setting up short positions is more prudent.

Important data will be released this evening, and price action volatility will increase significantly. For every trade, be sure to set a stop-loss.

If the rebound meets resistance at 4035-4050, go short with targets at 4000; if it breaks down, look lower to 3950.
If it stabilizes at 4000-4020, go long with a target at 4040; if it breaks through, watch for 4150.

Reminder:
The above analysis is my personal view from Muyao. The market can change rapidly; this content is for reference only and does not constitute any investment advice!
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