7.17 Gold early news: The midnight high-altitude idea was fully realized, and the early session saw a slight sideways move at low levels

The high-altitude range and trend judgment given at midnight last night fully matched the market. Gold price continued to fall and probe the 3973 low; short profits were successfully realized. In the early session, there was only a slight upward pullback and minor consolidation. The overall bearish trend has not reversed.

Technical analysis: On the 30-minute chart, the Bollinger upper band is 4009.51 and the middle band is 3987.55, with price under pressure below the middle band. On the 1-hour chart, the Bollinger upper band is 4055.17 and the middle band is 4007.52; the Bollinger channel overall is trending downward. Price is moving near the lower band, and RSI is at a low level, with weak rebound momentum.
Short-term resistance: 3987, 4009; Support: 3965, 3973.

Keke’s recommendation: In the early session, rebound into the high area remains the main idea. Short around 3985-4005, targets 3975 and 3965, and set a strict stop-loss.
Disclaimer: The above is only my personal opinion and does not constitute investment advice.