7.29 Mu Yun evening gold market analysis



The Federal Reserve’s interest-rate decision will be released tonight, driving the direction of the overall market.

At this stage, gold prices are still range-bound, consolidating with no improvement in the large-scale bearish structure.
A double pressure zone has formed at 4040-4050 above, while the 4000 round-number level below is an important support line. With more variables in the data-driven market, do not take heavy positions for aggressive bets; wait for price to rise into the pressure area, then scale in with orders in batches.

Trading references:
If gold rebounds to the 4030-4045 range, place short positions, targeting 4010 and then 3980 in sequence. If the downtrend continues, it can be seen reaching 3960. #黄金
GLDX0.21%
XAU0.10%
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