7.28 Gold Early Report by Jin Ke: Gold is trading in a clearly defined range; rebounds are a good opportunity to short

After the gold price probed the bottom and steadied yesterday, it entered a recovery channel. Most of the trade setups and trend forecasts were delivered accurately, with all range trading opportunities tied to the day’s high and low points fully booked.

The U.S. Dollar Index’s uptrend is gradually slowing, and its pressure on gold has weakened somewhat. With the market lacking a strong one-directional catalyst, trading is mainly driven by technical back-and-forth. The market is highly likely to keep oscillating through the range, so it is not suitable to blindly chase orders aggressively. $XAU

The BOLL bottom band continues to rise. Gold has stabilized and is trading near the midline. After the short-term downside momentum has been released, it has clearly weakened. The lower band has formed reliable bottom support, while resistance from the upper band still remains. In the morning session, treat the market primarily within the range-bound structure and wait for the price action to provide clear directional guidance.

On rebounds, place short orders in the 4090-4110 area, targeting 4050 and 4030
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