July 28 MuYun Gold Evening Review

Bearish momentum concentrates and releases, as various support levels are broken one after another, and the market continues to move downward.

Market recap: After the afternoon, gold broke through and kept weakening. The current price is 4019. On the hourly chart, price broke below the lower Bollinger Band, opening the channel to the downside and confirming a downtrend. Near-term resistance is at 4058 and 4097; key support below is at 4017 and 3992. Prior supports were broken in succession, with bulls lacking resistance, while bears keep increasing volume.

News: There are no major economic data releases tonight, and the US dollar remains at high levels. The market lacks a bullish catalyst; the afternoon breakdown triggers stop-loss selling, causing long capital to withdraw, with insufficient follow-through. The overall US session leans weak.

Trading strategy:
On rebounds in the 4030-4050 range, place short orders in batches. The first target is 4015. If the decline continues, watch the key support at 3990. #黄金