$XAU July 27 morning gold ideas

Last week, gold overall maintained a range-bound tug-of-war pattern. Both bulls and bears repeatedly fought and contested, but were unable to break out into a one-sided trend with sustained momentum.

On the 4-hour timeframe, the price previously surged to hit the upper Bollinger Band, then quickly dropped, falling in a string of red candles and breaking below the mid-band support. The current price is continuing to trade under pressure below the mid-band, and rebounds have repeatedly failed to hold above the key level.

Trading reference: operate in the 4120–4150 range. Targets: 4060–4030.