7.28 Gold Midday Report: The early-session short-on-rallies plan delivered precisely, and gold prices continue to weaken



The pre-market call for a rebound short setup was spot on. The gold price rebounded but lacked strength under pressure, sliding all the way down to a low of 4040. The bearish move perfectly matched the forecast, while the bulls had no ability to mount a counterattack.

Technical outlook: The 1-hour and 30-minute Bollinger Bands are both opening downward. The current price is trading near the lower Bollinger Band around 4043. The RSI has fallen into an oversold range, so short-term weakness is expected to continue, with only a modest correction/repair demand remaining.
Resistance: 4063, 4093; Support: 4032, 4010.

Keke’s suggestion: For the afternoon, continue to focus on shorting rebounds. Sell around 4055-4075, with targets at 4030 and 4010. Set a strict stop-loss and do not catch the bottom against the trend.
Disclaimer: The above is only my personal opinion and does not constitute investment advice. $XAUT
XAUT-1.15%
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