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7.23 Gold Evening Silk Road Analysis
Gold prices today are under pressure at high levels and gradually pulling back. Yesterday’s attempt to break 4166 was rejected, leaving a long upper wick. Upward momentum has weakened, and the market has fallen below the 4100 level, making the short-term trend weaker.
However, this is still only a pullback after an up move. The broader trend has not fully reversed. As long as key support holds, there is still a chance for a rebound.
Resistance: 4110-4125. Support: 4060-4070.
For trading:
Prefer short selling on the rebound at 4110-4125. Stop loss above 4130. Targets: 4070-4060.
On a pullback at 4060-4070, consider going long (buy). Stop loss below 4050. Targets: 4110-4125.
Note:
The above analysis is based on Muyao’s personal view. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
$XAUT