7.29 Gold Midday Report: The range rebound lacks strength—strategy shifts to selling at highs

Market Review: The session opened at 4028.02, briefly pushed up to 4037.79 in the day before coming under pressure and falling back. The low tested 4010.35, and the current price is 4026.06. Multiple attempts by the bulls to move higher failed to break through the resistance level. The low-range consolidation did not produce a real corrective rebound. Bullish follow-through has been seriously insufficient, the early low-long idea failed, and the market has returned to a weak pattern.

Technical Analysis: On the 4-hour chart, the gold price is moving within the lower half of the Bollinger Band. Any upward rebound repeatedly touches the mid-band pressure and then pulls back. The 5/10/20 moving averages all exert downward pressure on the price. KDJ briefly turned up, then turned down again, failing to form an effective bullish crossover rebound. Downside momentum is building again. Key resistance is in the 4044-4054 range, with support at 4010. A rebound into resistance is an opportunity to go short. Once 4010 is broken, a new round of downside will begin.

Jingchuan Gold Strategy: Sell at highs in batches in the 4038-4050 resistance zone. For short-term targets, first look at 4016; if support breaks, follow the trend lower to 4010. Only if the price holds above 4054 can you temporarily give up looking for the “Kong” route $XAUUSD