Gold analysis 2 july 26:

As much as i want to believe that Gold has formed lows, the current lows that we have formed is not very convincing. The price has not gone below the Q4 2025 low and although we did have a stoprun at the lows yesterday, the price action was not very convincing. The price retraced most of the gains towards the end of the session. Our current view is that gold is forming a bottom and there might still be one more stoprun before the massive higher in gold. If you look at the daily chart, you can see price repeatedly stopping above a key level ( blue q4 2025 line) creating an impression of a false bottom. This idea is to induce people to take longs and then move price aggressively down. We have added to positions and this time we will hold the positions if the price goes against us. That would be about $150 down before move up.

On the upside if the price can close above $4330, then the price becomes bullish on the daily and may the weekly chart. That is long way off. I think it will take a little bit more time for the institutions to accumulated positions here.

See the 4 hour chart, and we can see equal lows and equal highs. The price can go either way after the Non Farm payroll report later today. But since we already had a liquidity purge at the lows, price is likely to take the liquidity at the top. However we believe that the likelyhood of today’s price action to determine Gold direction is slim. As we head towards the end of the year, the momentum behind gold will become very strong and everybody will be rushing to get into the action.

But prior to that the market makers will do a stoprun and create fear to make investors sell their positions

May the Peace of the Lord be with you all.

Analysis done in good faith and not investment advice.