Will gold prices fall again after the reboundWhat's the nextgoal

Jul 9

Gold Price Trend Analysis: Gold prices fell back with a small bearish candle on the daily chart, followed by a rebound with three small bullish candles, recovering some of the losses from the three consecutive bearish candles. Yesterday, prices fell back under pressure below the downtrend line on the 4-hour chart. As previously emphasized, this trend line is a strong resistance level, and the downward retracement will not change unless it is broken. It's been a very interesting price movement! A very interesting price action! Gold rebounded slightly at the end of the session, ultimately closing around $4077. The daily candlestick closed as a spinning top pattern with a longer lower shadow than upper shadow. Given this pattern, today's gold price action suggests a continued downward trend, with potential for further declines.

The 4-hour chart maintains its downward trend with 4205 as a defensive point. Today's resistance level has shifted down to around 4135. Combined with the hourly chart's gradual downward movement, consecutive rebounds have seen highs pressured downwards, and lows are continuously moving lower. Currently, the main short-term resistance is concentrated around 4115-4135, which is also the intersection of two trend lines and a previously broken moving average support level. This area has now become the primary strong resistance. If another technical rebound occurs, but fails to effectively break through and hold above 4135, gold prices may face further downward pressure, continuing the short-term weakness. In summary, the recommended trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is 4115-4135, while the key support level is 4000-3980. Please keep up with the market's pace.

Jul 9

Trade active

Trading isn't actually that complicated. If you genuinely love this market, it will reward you. I don't pursue exaggerated rhetoric, nor am I swayed by emotions. I focus solely on concrete trades and a clear rhythm. There are no perpetual bull or bear markets, only the right direction in the present moment. Finding your rhythm and following the trend—that's the true essence of trading.

Jul 10

Trade closed: target reached

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