7.22 Gold evening wrap: After bulls push higher, price enters high-level range-bound consolidation and rest

Following the midday outlook for a long bias, the trade idea played out. After gold touched the 4141 peak, the uptrend slowed; at high levels, prices moved sideways to consolidate. The larger bullish structure remains intact. In the short term, the market has entered a consolidation-and-digestion phase, with overbought indicators gradually correcting.

Technicals: On the 30-minute chart, Bollinger upper band 4135.66 and middle band 4122.32; on the 1-hour chart, Bollinger upper band 4147.07 and middle band 4102.83. Price has pulled back to below the upper band; RSI has returned to a neutral range, and short-term bulls vs. bears competition has intensified.

Range: 4103-4142. Resistance: 4142, 4147. Support: 4122, 4103.

Coco’s recommendation: In the evening, still go with the trend and focus on going long on dips. Buy around 4100-4120, with targets 4130 and 4150. If price faces pressure at higher levels, consider a light-position short for a range-bound pullback. Do not chase gains; set stops strictly and trade with tight risk control.
Disclaimer: The above is for personal opinion only and does not constitute investment advice. #黄金