In the 1-hour chart, gold is oscillating and consolidating between 4465 and 4588, with a clear key support and resistance level:

Upper resistance: Double top strong pressure at 4588, short-term high point dividing line at 4559 (last night's high)

Lower support: Double bottom strong support at 4465, short-term low point dividing line at 4489 (yesterday's low)

In a ranging market, operate with light positions, strictly set stop-losses, avoid chasing rallies or selling in panic, wait for an effective breakout of the range before following the trend, and conservative traders can wait for the European session trend before deciding on the U.S. session layout;

Recent major data:
1. The new Federal Reserve Chair Powell was officially sworn in on May 22, market is highly focused on the policy signals from the June FOMC meeting, with the "interest rate cuts + balance sheet reduction" unconventional policy combination, which may trigger significant market volatility afterward;

2. Focus on upcoming U.S. PCE inflation data, non-farm employment data, and Fed officials' speeches. The data performance will directly influence market expectations of the Fed's policy pace, likely breaking the current consolidation pattern. #TradFi交易分享挑战 #XAU $XAUUSD