7.31 Zheng Chen Morning Outlook
The current price has reached the key resistance level at 4104. After pushing up to 4116 earlier, it faced repeated pressure and pulled back; a large amount of short-term sell pressure has accumulated here. The daily chart has completed a bottoming process at low levels. The moving averages have turned upward and the MACD red histogram is continuing, suggesting a generally bullish mid-term consolidation. However, the 1-hour RSI has entered an overbought zone, upward momentum is weakening, and the short-term trend is shifting into a high-level range shakeout. It will be difficult to break above in a single direction; focus mainly on selling at the top and buying at the bottom within the range.
Key Levels
Resistance: First resistance 4115-4120 (strong prior high), extreme resistance 4150
Support: Short-term support 4085, core defense 4070 (MA support), strong support 4050
Intraday Trading Plan
1. Short positions (short-term primary idea)
Sell in batches at the current price / on rebounds in the 4108-4115 area; stop loss above 4125; targets 4088 → 4075
2. Long positions (pullback-and-hold-to-long more cautious idea)
Buy on stabilization after a pullback in the 4082-4085 zone; stop loss 4068; targets 4105-4112
Market Boundary Reminder
1. If it holds effectively above 4120 and closes, the short-term trend turns strongly bullish; abandon shorts and chase longs in line with the move on pullbacks;
2. If 4070 support breaks, the bullish repair phase ends; switch the strategy to high shorts and look for a test of the 4050 support. #黄金下跌
The current price has reached the key resistance level at 4104. After pushing up to 4116 earlier, it faced repeated pressure and pulled back; a large amount of short-term sell pressure has accumulated here. The daily chart has completed a bottoming process at low levels. The moving averages have turned upward and the MACD red histogram is continuing, suggesting a generally bullish mid-term consolidation. However, the 1-hour RSI has entered an overbought zone, upward momentum is weakening, and the short-term trend is shifting into a high-level range shakeout. It will be difficult to break above in a single direction; focus mainly on selling at the top and buying at the bottom within the range.
Key Levels
Resistance: First resistance 4115-4120 (strong prior high), extreme resistance 4150
Support: Short-term support 4085, core defense 4070 (MA support), strong support 4050
Intraday Trading Plan
1. Short positions (short-term primary idea)
Sell in batches at the current price / on rebounds in the 4108-4115 area; stop loss above 4125; targets 4088 → 4075
2. Long positions (pullback-and-hold-to-long more cautious idea)
Buy on stabilization after a pullback in the 4082-4085 zone; stop loss 4068; targets 4105-4112
Market Boundary Reminder
1. If it holds effectively above 4120 and closes, the short-term trend turns strongly bullish; abandon shorts and chase longs in line with the move on pullbacks;
2. If 4070 support breaks, the bullish repair phase ends; switch the strategy to high shorts and look for a test of the 4050 support. #黄金下跌