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Jul 11

Gold Technical Analysis: From a weekly chart perspective, gold failed to continue the rebound momentum of the previous week, with a bearish candle engulfing some of the gains, closing near $4100, indicating heavy selling pressure above. On the daily chart, gold prices encountered strong resistance and fell back after touching above $4200 (the high at the beginning of the week was $4202). After three consecutive days of decline, prices stabilized slightly on Friday. The technical pattern shows that gold prices are still within the downward channel since May. The 20-day moving average (4140) and the 100-day moving average (4610) are both above the current price, forming medium-term resistance. The key support below remains the psychological level of $4000. If this level is breached, it may trigger a technical sell-off, further testing the previous low near $3940.

The 4-hour chart shows gold prices fluctuating around $4100, with short-term moving averages converging. The Relative Strength Index (RSI) remains in the neutral-to-weak zone (around 43), indicating that short-term downward pressure has weakened but upward momentum is insufficient. Resistance levels are at $4123 (100-period moving average), $4133 (20-period moving average), and the strong resistance zone of $4180-$4200. Support levels to watch are $4080, $4050, and the $4000 mark. Overall, the recommended trading strategy for Monday is to primarily sell on rallies and secondarily buy on dips. Key resistance levels to watch are $4140-$4150, and key support levels are $4070-$4050. Please stay tuned for further updates.

Jul 11

Trade active

Looking back at this week's market, I'm even more convinced of one point: truly excellent trading is never about making market analysis increasingly complex, but about making trading increasingly simple. Many traders believe that the more indicators they refer to, the more comprehensive the news they read, and the more detailed their analysis, the more confident they will be in their trading. In fact, too much information often interferes with judgment, making you hesitate to enter and exit the market. Ultimately, this not only increases trading risk but also makes it easy to miss truly valuable opportunities. The market never rewards the smartest people, but the most disciplined. Establishing a trading system that suits you, focusing on high-probability trading signals, strictly executing your trading plan, and constantly repeating the right actions are the core to long-term success in the market. The essence of trading is not pursuing correctness every time, but repeating the right method countless times. Simplicity, focus, and execution are far more valuable than complexity. Stay patient, maintain your rhythm, and next week, we will continue to make precise plans to embrace new market opportunities.