7.17 Gold Midday Report: Early Short-in-High Plan Executed Precisely; Bounce Faces Resistance, Hard to Change the Bearish Trend

The high-short plan and the pressure levels given in the morning fully matched the market. After a modest rebound, the gold price struggled to continue higher. It failed to break through key resistance; the overall bearish pattern remains unchanged. In the short term, the rebound is only a technical correction.

Technical analysis: On the 30-minute Bollinger Bands, the upper band is 3,996.65 and the middle band is 3,983.75. The gold price is under pressure above the middle band, and the Bollinger channel is heading downward. On the 1-hour Bollinger Bands, the upper band is 4,036.52 and the middle band is 3,996.73. Price is still within the middle-to-lower band range. The RSI has edged back up slightly, but there is no reversal strength.

Short-term resistance: 3,996 and 4,036.
Support: 3,970 and 3,960.

Keke’s suggestion: During the midday, rebounds should still be sold short from higher levels. Short near 3,990–4,010, with targets at 3,970 and 3,960. Operate with strict stop-loss.

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