Gold Prices Adjust After Data ShockGoldOANDA:XAUUSDKallie_GoldGold Prices Adjust After Data Shock First major event: US June CPI data fell short of expectations across the board. Second major event: Escalating tensions between the US and Iran – the US announced the closure of the Strait of Hormuz and imposed passage fees, exacerbating the standoff and causing oil prices to surge. Constrained by resistance around $4200 and concerns that the Middle East situation could push up inflation, gold prices have limited upside potential in the short term. First resistance level | $4100-$4120 | Mid-term watershed | $4200 | Only if gold prices firmly hold this level can the weak trend be reversed. Short-term support level | Approximately $4045 | Strong support level | $3980-$3950 | Also a key "defense line". The dual pressures of the Fed's hawkish stance and Middle East inflation risks remain, and gold has not yet entered a sustained upward trend. We'll skip the complex macroeconomic analysis and get straight to the point. In the highly competitive financial markets, there are no absolute predictions, only absolute reactions. Be an "outsider"—pay attention to fund flows and market signals. Currently, gold is priced at $4052 per ounce. Despite last night's CPI data bringing a strong upward candle, gold prices retreated from their highs, closing near $4050, indicating significant selling pressure above. However, the support level at $3980 remains solid. Therefore, today's core strategy is simple: Core logic: Even with last night's strong CPI data, gold failed to hold above $4100, suggesting market concerns that the Middle East situation could lead to a resurgence of inflation. Gold prices may need to consolidate for a while before rebounding, given their inability to rise further. Entry point: Approximately $4090-$4100. If gold prices rebound to this level during the European or early US trading session today and show clear signs of upward weakness (e.g., a large bearish engulfing pattern on the 1-hour chart), then don't hesitate to short immediately. Add to short position (confirmation): If the gold price breaks below the intraday support level of $4050, add to the short position, anticipating a faster decline. Target price (take profit): First target price: $4045 (intraday support level); second target price: $3980-$4000 (strong support zone). Around $3980, take profit to lock in gains, regardless of whether you are currently in profit, as short sellers are unlikely to push the price down further at this level. Stop-loss point: Set the stop-loss above $4120. If the price rises against the trend, ignoring negative news, it indicates our judgment was wrong and suggests a strong upward trend is imminent. Our core strategy is "buy low, sell high; avoid chasing highs."