6.1 Gold Evening Review: Rises Encounter Resistance and Pull Back, Focus on Short Positions at Night

Review of the Market:
Intraday gold surged to the 4545 level, faced resistance and pulled back, currently oscillating around 4507 with a slightly weak trend, continuing the pattern of rising and falling during the white session. The bullish momentum has clearly slowed down, multiple attempts to break the high have failed, and selling pressure above continues to appear. The 4489 intraday low is holding below, with the overall trend showing a high-level pullback and a weak consolidation.

Trend Analysis:
From the news perspective, market risk sentiment has improved, the US dollar and US Treasury yields have slightly rebounded, exerting short-term pressure on gold prices; technically, the 1-hour MA5 and MA10 moving averages are turning downward, and the price has broken below these support levels. The resistance in the 4527-4545 range is clear; the overall major trend is oscillating at high levels, with a clear short-term bearish signal, but support below is relatively strong. The battle between bulls and bears is intensifying, and opportunities for both directions exist within the range.

Coco Suggestions:
Focus on short positions: rebound to around 4515, if stabilized near 4535, consider shorting with targets around 4490-4475; if broken, look further down.
Use long positions as a supplement: if retracing to around 4490-4475 and stabilizing, consider going long with targets around 4510-4520; quick in and out trades. Coco reminds to avoid blindly chasing rallies or panicking to sell, strictly set stop-losses, and operate with light positions.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please trade cautiously.