【6/1 Inside Thoughts】

The US-Iran ceasefire negotiations have failed to make substantial progress, with Lebanon pushing for talks, increasing market tension. Long-term gold prices remain uncertain as a safe haven, but there will be oscillations and shakeouts during the process. This week's data week will see if it can once again provide upward momentum for gold prices.
Last week, gold experienced a deep V-shaped rebound, breaking through the moving average resistance. The 4-hour chart is generally sideways with an opening gap, but the moving averages are turning, and at the 1-hour level, gold broke below the midline, signaling a potential reversal and retest. Overall, expect sideways movement today, mainly focusing on selling high and buying low.
The first resistance is at 4540-4555, with the second resistance at 4585-4600.
The first support is at 4500-4485, with the second support at 4460-4440.
Short at around 4585 on the rebound, add at 4593, target 4565-4565.
Buy on dips near 4500, add at 4493, target 4518-4535. $XAUUSD