6.4 Gold Morning Review: Short-Term Slight Rebound Does Not Change the Overall Bearish Trend

Market Review: Positive non-farm payrolls dragged the dollar lower, pushing gold prices down. The overnight low touched 4424.04, and the market has since rebounded slightly in the morning, trading around 4447. The overnight bearish move has fully played out. The current rebound is only a minor correction after a sharp drop—buying pressure from bulls is weak, and the overall market favors the bears.

Trend Analysis: The 1-hour and 30-minute moving averages remain in a bearish alignment, continuing to suppress gold prices. Near-term resistance is at 4448-4455, with heavier pressure around 4465. Near-term support is at 4430, and the key support at the low is 4424. The KDJ is slightly turning up from the low area, which can only support a minor short-term rebound; the bearish pattern on the larger timeframe remains unchanged.

Trading Idea: Follow the trend and look to sell on rebounds. If price rebounds to 4450 and 4470, consider taking shorts in batches. First targets: 4430 and around 4420. If those levels break, look lower to 4410. Only if the price stabilizes above 4424 can you consider a short-term long with quick in and out. Reminder: keep all positions light, set stop losses, and do not chase pumps or sell in panic.

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