7.21 Gold Market Analysis | Slightly Bullish in the Short Term

Today, gold pulled back to around 4070 again. The key driver is still changes in the US-Iran situation, which has prompted crude oil to fall, easing inflation concerns, and giving gold a clear rebound.

Next, the focus is very simple:

🟢 Support: 4050 / 4020 / 4000
🔴 Resistance: 4080 / 4100

My view: As long as 4000 holds and doesn’t break, the short-term bias remains slightly bullish.

If 4050 holds, continue to look for 4080—4100;
if there is a strong breakout above 4100, upside room may open further.

On the other hand, once price falls back below 4000, you need to be cautious about weakening momentum.

In one sentence: Gold bulls have regained the initiative; the question now is whether 4100 can break through.

For market analysis reference only and does not constitute investment advice.$XAUUSD ‌