7.26 Muyao next week market outlook

The central bank continues to increase its gold holdings, which provides support for gold prices in the medium to long term; but the Federal Reserve maintains high interest rates, putting pressure on upside longs. Gold surged to 4166 but met resistance and pulled back, with less short-term chasing demand. Next week lacks catalysts and bullish triggers, so the overall tone is under pressure; most likely, it will range and drift downward to seek support.

On the daily chart, 4042 has support; overhead, 4063-4068 is a heavier resistance zone, so rebound space is limited. On the 4-hour chart, price is below the moving averages; early next week, 4065-4085 is the key pressure area.

Trading ideas:
Short the 4065-4085 rebound range, targets 4035, 4000, 3970.
If the pullback to 4000-4020 holds and stabilizes, consider a small position long.

Note:
The above analysis is Muyao’s personal view. The market changes rapidly; this content is for reference only and does not constitute any investment advice!
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