7.20–7.24 Golden Week Weekly Review Summary

This week’s gold overall first rose and then fell sharply, showing a clear surge-then-retrace pattern. The highest point during the week reached 4166, and the lowest pulled back to 4022. The weekly line closed with a long upper wick—an adjustment pattern typical after a big rally. Large-timeframe bullish momentum is temporarily resting; in the short term, it has entered a sideways pullback rhythm. Throughout, it was essentially a process of taking profits and escaping at high levels, with repeated back-and-forth positioning at low levels.

Monday: The price action followed the trend to continue rising, climbing steadily with very weak pullback strength. Bullish momentum stayed firmly in place; price kept moving higher, approaching a high-level pressure zone.

Tuesday: The bulls made a final push, touching this week’s high of 4166. But at high levels, it became overbought; chase-buying demand declined. A large number of high-level long positions took profit and exited. Upward momentum began to fall short, and adjustment risk gradually increased.

Wednesday: The market decisively turned. The bulls lacked the strength to make new highs; heavy selling pressure at high levels concentrated and erupted. Prices broke down consecutively, resulting in strong one-way bearish decline. In the short term, the trend switched directly from up to down.

Thursday: The downtrend continued. After probing down to the key support at 4022, selling pressure paused and stabilized as short-side momentum was largely released. Some low-level funds entered, leading to a mild rebound. However, the repair strength was weak—just a technical bounce during the decline, not a trend reversal.

Friday: Throughout the day, price stayed in a narrow range at low levels. The rebound attempt toward the 4076 resistance failed to hold. Bulls and bears got stuck in a tug-of-war. There was no clear overall direction; it’s waiting for next week’s breakout decision. Focus on the 4022 support and the 4076 resistance.

This Week’s Trading Reflections

The market this week moved fast, with rapid switches between big rallies and big selloffs. Chasing trades is the easiest to get swept for losses back and forth. At the end of a one-way move, don’t blindly chase. During the pullback phase of a decline, don’t rush to bottom-pick. Trading must wait until key support and resistance levels are reached, then act. Rigorously control risk and follow the market’s rhythm shifts.
$XAUT