7.27 evening market outlook

From a fundamentals perspective, the overall downward trend has not been broken. This rebound for now cannot be judged as a reversal. Multiple central banks around the world continue to buy gold, providing bottom support for the gold price; however, the pressure caused by the Fed’s high interest rates still remains. As long as market expectations for the September rate decision remain unchanged, gold cannot break into a sustained upward trend. The current rebound is only a phase of technical correction.

Technical reference:
Short-term resistance: 4090—4100
Key pressure zone: 4120—4130
Support zone: 4065—4075

Trading idea: If the gold price rebounds into the 4115—4120 range, short positions can be opened. The downside targets are the 4070—4065 range. #黄金