Wednesday, June 3rd Gold Latest Analysis


The 4490-4510 zone has shifted from support to resistance.

Recent two rebounds have failed to hold this zone, indicating that bears still dominate the short-term trend.
A clear head and shoulders top pattern has formed on the chart, with the left shoulder, head, and right shoulder mostly completed, and the neckline near the 4480-4490 area.

Currently, the price is repeatedly testing this zone; trading strategies should mainly focus on selling high!

Sell around 4490-4500, with a target near 4450-4420.
$XAU
XAU-3.43%
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