7.24 Gold Morning Outlook

Overnight, gold prices continued to fall. The current price is oscillating around 4048. Today has no key data to watch, so the market is driven purely by technical formations.

After the sharp drop by the shorts, there has only been a slight corrective rebound. The overall weak structure remains unchanged—only take shorts, do not catch the bottom.

On the hourly chart, the moving averages are being heavily pressured. The 4-hour swing highs keep making lower highs. The rebound is merely a correction in the middle of the sell-off, and no reversal signal has appeared.

**Layout:** Short rallies in the 4050-4070 zone, targeting 4040. If the level is broken, then follow the continuation—look for 4020$BTC $GT $ETH .