7.24 Gold Market Evening Review by Toujin Ke: Violent deep V, big reversal! Any rebound is a high-altitude selling window

Gold traded a heart-stopping roller-coaster move during the day. In the early session it churned lower in a range, with price dipping to the intraday low at 4022; then the bulls suddenly launched a strong offensive, and into the close price surged to around 4063. $XAU

On the 10-minute chart, price bottomed out and rebounded from the lower BOLL band, broke through the mid-band resistance in one push, and then held steadily above the short-term moving averages. The MACD indicator flipped from green to red; the red histogram kept expanding and lengthening, and bullish momentum in the short term is being released. But this rebound is essentially an oversold recovery; the overall weak trend has not been fundamentally reversed. $AKE

Set short positions in the 4070-4090 range, targeting 4050 and 4000
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