July 29 Morning Wrap — Gathering Fees “Lady” — Huang Yu Noon Report

Low-range consolidation builds strength for a pause and fine-tuning; short-term “head” repair continues, with the uptrend repair still going

1. Looking back at the market: after gold probed the bottom at the 4010 low, it held in low-range consolidation. Current price is 4024. On the hourly chart, price stands above the lower Bollinger band 4013, continuing to probe the pressure area at the Bollinger mid-band 4027. After the “over-die” move, the sell-off pressure has continued to weaken. Near-term resistance is 4027 and 4042, while key support is 4013 and 4010. The low-level bottom support is solid; buying interest is gradually entering, and the trend is incubating a rebound and repair.

2. In terms of news: there is no major U.S. economic data today. The pace of the U.S. dollar’s rise has slowed. The “negative” sentiment caused by the earlier continuous downward moves has basically been digested. Market-wide, the wait-and-see sentiment is strong, with no new negative catalysts to pressure gold price. The low range has conditions for an upside rebound.

Strategy:
Buy on pullbacks in the 4010–4018 zone, with targets at 4030; if it breaks through, watch the 4045 resistance.

Note: This is for reference only and does not constitute any investment advice. $XAUT