7.27 Gold early news: Opening spike meets resistance; intraday rebound and high-altitude short strategy unchanged



On Monday’s open, the gold price surged straight to the 4096 peak. After a rapid short-term rise, it lagged and retreated lower; the bulls have temporarily overextended, increasing downside risk.

Technicals: 30-minute Bollinger upper band at 4086.19, with the price piercing above the upper band; 1-hour Bollinger upper band at 4087.07, with the current price trading under the upper band and under pressure; RSI has entered overbought territory.
Resistance: 4096, 4108; Support: 4064, 4041.

Trade plan: Focus on selling on rebounds from higher levels. Short around 4095-4115, targeting 4075 and 4055. Set a strict stop-loss and control position sizing.

Disclaimer: The above is only my personal opinion and does not constitute investment advice.
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