### 6.4 Morning Trading Strategy: Gold rebounds—mainly look to short at higher levels; avoid blindly buying the dip

Overnight, gold surged and then retreated; the daily chart closed with a bearish candle, signaling that the prior phase of the rebound has temporarily come to an end. With U.S. Treasury yields maintaining an upward trend, market expectations for a Federal Reserve rate cut have been fluctuating. In the short term, fundamentals continue to weigh on gold prices, causing bullish momentum to weaken. As a result, the short-term trend has shifted from ranging with a bullish tilt to a weaker consolidation.

Currently, bears are in control, and the overall market shows a pressured, consolidating pattern. Notably, the key support level below has not been broken. It is expected that the market is unlikely to see a continuous sharp selloff in the short term, and it is more likely to drift lower with weak consolidation. For execution, do not blindly bottom-fish at low levels, and it is also not recommended to chase shorts while the price is falling. Instead, wait patiently for rebound opportunities to **sell short**—this offers a better risk-to-reward ratio.

【Trading Plan】

**Entry reference:** Watch the resistance zone above at **3465–3480**. If the price rebounds into this area and shows signs of rejection/resistance, consider gradually building short positions.

**Defense setup:** Place a unified stop-loss above **3490** to guard against unexpected price spikes.

**Target outlook:** First look at **3430** as support. If it breaks, reduce positions and move the stop-loss down. After that, sequentially monitor the support performance at **3410** and the integer level at **3400**.