July 28 “Rake in Gold Lady” – Huangyu Evening Review

The power of the concentrated outburst has fully released; the price has broken below support and continues to move downward
1. Judging from the intraday market review, after the gold price broke down in the afternoon, it kept falling. The current price is 4019. The hourly chart has completely fallen below the Bollinger lower band at the 4019 level. The Bollinger channel has opened downward, and the downward trend has been fully unleashed. Near-term resistance above is 4058 and 4097; key supports below are 4017 and 3992. All the previous consolidation supports have been lost. “Doutou” has no resistance at all, and “Kongtou Hangqing” has once again surged in volume.
2. In terms of news, today there are no major U.S. economic data throughout the day. The dollar remains firm at a high level. The market lacks bullish catalysts. After the technical breakdown in the afternoon, stop-loss positions triggered and a concentrated wave of selling/exits occurred. “Doutou Zijin” continues to leave the market, with no buy-side orders to take over and repair. In the evening, “Hangqing” runs weaker in the same direction.
Strategy:
On the rebound, plan to scale into “Kongtou” in the 4040-4060 range, with targets at 4015, and looking down to the 3990 low-side support.
Note: This is for reference only and does not constitute any investment advice. $XAUT