6.2 Gold Morning Review: The rebound is a corrective move; the whole session is mainly focused on selling highs

Market recap:
Yesterday, gold surged to around 4545, met resistance and dropped sharply. After the late selloff, it rebounded slightly. It is currently trading with minor fluctuations around 4484. In the short term, the rebound lacks strength—it is only a small consolidation after the drop. Selling pressure remains overhead. Below, 4476 briefly holds the price. Overall, it is still a weak market as price retreats from high levels.

Trend analysis:
On the news front, the US dollar and US Treasury prices are holding steady with a slight strengthening, which limits gold’s upside space. Technically, the short-term moving averages on the hourly chart are pointing downward and suppressing the price. The short-term small rise is almost unable to push higher. The 4505-4525 area is the key resistance zone. In the larger cycle, the high-level range is weakening; the short-term rebound is only a brief correction, and the bears still dominate the board.

Coco’s suggestions:
Sell on rallies as the priority: If the rebound reaches 4505 and stabilizes around 4525, consider going short, with targets at 4480 and around 4460. If it breaks down, you may follow through to look for further downside. If the rebound meets resistance, you can take a light short-term long position—enter and exit quickly. Coco reminds you not to chase gains blindly, to strictly set stop-losses, and to trade with light sizing.

Disclaimer: The analysis above is for reference only and does not constitute investment advice. The market is risky; enter the market with caution.