XAUUSD: Market Analysis and Strategy for July 28Gold technical analysis:
Daily chart resistance level 3375, support 3310
4-hour chart resistance level 3350, support 3320
1-hour chart resistance level 3345, support 3325.
Gold, after hitting the 3438 area last week, saw a sharp adjustment, falling to around 3323, a drop of about $120, and there is no sign of stopping the decline in the short term. The next step may be to test the previous starting point of 3310. If it holds here, it is expected to bottom out and rise. If it falls below this position, the market will increase its selling behavior, and the short-selling target will be near the daily Bollinger lower rail 3285.
For the intraday market, the important position below is around 3310. Today's Asian market opened at around 3323, and then quickly rose. As of now, the highest reached 3345, and it still did not break through the high point of the US rebound on Friday near 3347. In the day, you can rely on today's low point near 3323 to be bullish, pay attention to the resistance of 3347/51. If the gold price is difficult to break through, you can consider selling. If the rebound breaks through the 3347~3351 area, the short-term will turn bullish.
BUY: 3325near
BUY: 3310near
SELL: 3345near
