July 21 Fund-Raising Lady - Yellow Fish Morning Brief

The rebound has entered a high-range consolidation phase, with bulls and bears re-engaging in the short term

1. Looking back from the chart, after gold price probed the low at 3959, it continued to repair and move upward. After hitting a high at 4040, it faced pressure and went sideways. The current price is 4005. On the hourly chart, price is running steadily below the Bollinger middle band at 4012. The Bollinger upper band at 4027 creates near-term strong resistance. Key support below is 3998 and 3978. The momentum of the prior oversold rebound has slowed somewhat, and the market has shifted into range-bound consolidation.

2. From the news perspective, the market is waiting for the major US inflation and employment data in the second half of this week to guide the next move. The dollar is currently maintaining a narrow-range fluctuation. All participants in “Duozi Jinyin” are also watching and building up strength. The gold price currently lacks a one-way catalyst, so in the short term it maintains a range-running pattern.

Strategy:
Pull back to the 3990–4000 range with a light position to do “Duo,” target 4025 and 4040. If the rebound fails to break above 4027, you can reverse and do “Kong.”

Note: This is for reference only and does not constitute any investment advice. $XAUT