July 24th Gold Morning Outlook
Since the recent high of 4166, gold prices have started a sustained decline. On the hourly chart, the Bollinger Bands are opening downward, and price is moving lower in a range along the lower band. The Bollinger middle band at 4082 has shifted from support to a strong intraday resistance.
The RSI remains in a weak range. The short-term bearish trend is clear. However, after the consecutive selloff, the chart shows a technical rebound/repair need.
Key Levels
Resistance levels: 4082, 4109
Support levels: 4040, 4018
Trading Suggestions
Longs: Consider entering in the 4020–4040 range after stabilization. Targets: 4060. A valid breakout would suggest upside toward 4090 and 4180.
Shorts: Place shorts in the 4060–4082 range as price meets resistance. Targets: 4020. If it breaks down, look for 4000 and 3920.
⚠️ Personal chart analysis is for reference only and does not constitute investment advice. Live market conditions change rapidly—adjust your trading plan flexibly.
Since the recent high of 4166, gold prices have started a sustained decline. On the hourly chart, the Bollinger Bands are opening downward, and price is moving lower in a range along the lower band. The Bollinger middle band at 4082 has shifted from support to a strong intraday resistance.
The RSI remains in a weak range. The short-term bearish trend is clear. However, after the consecutive selloff, the chart shows a technical rebound/repair need.
Key Levels
Resistance levels: 4082, 4109
Support levels: 4040, 4018
Trading Suggestions
Longs: Consider entering in the 4020–4040 range after stabilization. Targets: 4060. A valid breakout would suggest upside toward 4090 and 4180.
Shorts: Place shorts in the 4060–4082 range as price meets resistance. Targets: 4020. If it breaks down, look for 4000 and 3920.
⚠️ Personal chart analysis is for reference only and does not constitute investment advice. Live market conditions change rapidly—adjust your trading plan flexibly.