7.22 Gold early report: High-level range-bound consolidation continues; beware of a spike then pullback



Gold prices have continued overnight performance, maintaining a high-range consolidation pattern. They have repeatedly tested the overhead resistance; upside momentum is gradually slowing, and with the market in an overbought state, the risk of a pullback remains.
Technical analysis: On the 30-minute Bollinger Bands, the upper band is 4094.18 and the middle band is 4072.97; on the 1-hour Bollinger Bands, the upper band is 4091.10 and the middle band is 4065.66. Price is trading below the upper band; the RSI is in a relatively elevated range, and upside resistance is strong.
Trading range: 4073–4088. Overhead resistance: 4088, 4094; support: 4073, 4066.

Koko’s suggestion: For intraday trading, focus mainly on selling rallies at high levels. Short near 4085–4105, with targets at 4075 and 4065. If resistance breaks, look toward below 4045. If support holds steadily, only consider short-term swing longs for arbitrage; do not blindly chase higher prices. Set stop-loss levels strictly.

Disclaimer: The above is only my personal opinion and does not constitute investment advice.
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