7.21 Gold Midday Report: The Asia session spike is only a rebound; the high-short approach remains unchanged

In the early session, prices dipped to the low and then rebounded to a 4051.71 peak. Short-term bulls surged quickly, but overall this is an oversold rebound and has not reversed the mid-term bearish pressure structure. At higher levels, there is risk of a pullback.

Technical analysis: On the 30-minute Bollinger Bands, the upper band is 4052.46 and the middle band is 4020.90. Price briefly broke above the upper band, and the RSI entered the overbought zone. On the 1-hour Bollinger Bands, the upper band is 4044.15 and the middle band is 4017.46. The indicators are severely overbought, and the need for a pullback is strong.
Trading range: 4000-4052. Upper resistance: 4052 and 4068. Lower support: 4021 and 4000.

Keke’s suggestion: For the day, rebound and sell at higher levels should still be the main approach. Short around 4050-4070, targeting 4020 and 4000. If the level breaks, look down to 3980. If support holds at lower levels, only short-term long scalping is allowed; the main idea is still to short at higher levels. Set a stop loss strictly.
Disclaimer: The above is only my personal opinion and does not constitute investment advice.