7.29 Mu Yun mid-day analysis

After the early session, gold prices dipped to a low point and then saw a technical rebound, which is a corrective move following oversold conditions.

At the moment, market trading sentiment is cautious. This rebound lacks substantial positive catalysts, so its follow-through is limited. The market is waiting for the Federal Reserve’s policy decision to be released, while ongoing expectations of high interest rates continue to pressure gold prices.

From the 4-hour structure, the overall bearish trend has not been broken. Key resistance levels above are 4040 and 4060. The 4000 round-number level is the core near-term support; the next focus is whether that support can hold.

Trading approach:
Place short positions on rebounds in the 4045—4060 range,
with targets sequentially around 4025, 4000, and 3970.#黄金