7.17 Gold Midnight Review: Short-term rebound only repairs; the main bearish trend in the larger timeframe remains unchanged


Gold prices rebounded from the lows and surged to 4008, which is a technical correction after oversold conditions. Bulls lack follow-through continuity, and the overall downward structure has not been broken.
Technical analysis: The 30-minute Bollinger Bands are slightly tightening upward, and the price is nearing the upper band, facing pressure; on the 1-hour chart, the Bollinger Bands still point downward overall. The rebound is meeting clear resistance, and indicators are overbought in the short term, increasing the need for a pullback.
Short-term resistance: 4013, 4014; support: 3993, 3973.
Keke’s suggestion: At midnight, the primary idea is to rebound and sell at highs. Short around 4010–4020, targets 3990 and 3970. Execute with a strict stop-loss.
Disclaimer: The above is only my personal opinion and does not constitute investment advice.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned