7.19 Gold next week outlook

When trading, do not stubbornly hold positions against the trend or blindly bottom-fish; trading with the trend is the core to stable profits.

This week, gold prices saw repeated swings between bulls and bears. After rallying to higher levels, it faced pressure and pulled back; the whole time the bearish approach was executed and cashed in. On Friday, all short positions above 4000 were fully profitable. The close was 4016. A short-term rebound does not change the weak overall trend.

Gold: Sell at 4040-4050, targets 3950/3960; if it breaks down, look for 3940-3930$BTC