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7.23 Gold Evening Silk Road Analysis
Today, gold prices are under pressure at highs and gradually pulling back. Yesterday, they surged to 4166 and met resistance, leaving a long upper wick. Upward momentum weakened; the price broke below 4100, turning the short-term trend weaker.
However, this is only a pullback after an upswing—the larger 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.
In terms of trading:
Prefer shorting the rebound at 4110-4125. Stop-loss above 4130. Target: 4070-4060.
If price retraces to 4060-4070, consider going long with a “do” approach. Stop-loss below 4050. Target: 4110-4125.
Reminder:
The above analysis is Muyao’s personal view. Markets change rapidly; this content is for reference only and does not constitute any investment advice!
$XAUT