7.7 Afternoon gold thoughts, buy on pullback



Yesterday gave a buy at 4135, high at 4174, nearly 40 points.

Today there are no major fundamental data, the market is mainly based on technical oscillation and washout.

The daily large-scale bullish structure is intact, downside space is limited. The current pullback is just a technical retracement to gather strength. The market is overall waiting for the release of the Fed minutes on Wednesday to determine the next direction.

The 4-hour and 1-hour small-cycle indicators are weak, and the day is mainly based on oscillation and correction.

Overall approach: long-term trend is bullish, short-term look for pullback first, strictly avoid chasing highs and selling lows, rely on the range to sell high and buy low, trade steadily.

Reference: buy in the 4105-4118 range, stop loss at 4098, targets: 4158-4175

Trading reminder: in a volatile market, do not use heavy positions, strictly set stop loss, patiently wait for entry points, do not enter the market casually to gamble.
GLDX-1.13%
PAXG-1.41%
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