July 28 Fund-Collecting Madam – Yellow Fish Midday Review

After a horizontal consolidation, choose to break down and move lower; the GQ head pattern has once again started up

1. Looking back at the chart: after earlier price range consolidation, gold has lacked the strength to push higher. The current price is 4046. The hourly line has broken below the Bollinger middle band support at 4074. The “nine-turn” short sequence is gradually taking shape. The short-term resistances are 4074 and 4108. The key supports below are 4040 and 4022. The early-session long rebound was completely cut short. Downward momentum can release again, and the range-bound structure has been broken by the bears.

2. From the news side: today, there are still no major US economic data releases. The dollar continues to hold steady at high levels. With the market in a wait-and-see mood, the “hodor” purplejin is unwilling to enter positions proactively. The earlier technical repair and sailing correction is completely over. With no fundamental positive catalysts to support it, gold has continued to absorb and follow through on the pressure from the technical pullback.

Strategy:
On rebounds, place staggered bids in the 4065-4075 range for the short, with targets at 4040 and 4020.

Note: The ideas are for reference only and do not constitute any investment advice. $XAUT