6.4 Gold Midnight Review: Rises sharply, then falls back to close bearish; rebound lacks upward momentum

Market recap: In the evening, initial jobless claims data was favorable and drove gold prices up to a high of 4515.29, but after meeting pressure, the price plunged. It is now around 4470. The short-term spike caused by the positive data has completed its quick upswing and profit-taking; the oversold correction phase is nearing its end. Overall, gold remains in the rebound stage after a big drop, and the medium- to long-term bearish structure is unchanged.
Trend analysis: The rebound in U.S. stocks has weakened safe-haven buying, and longs have taken profits and dragged gold prices lower. From a technical perspective, the KDJ indicator has turned down after rolling over from a high level. Short-term pressure is at 4515–4535, with heavy pressure at 4555. Short-term support is at 4468, and key support is at 4424. Both the short- and larger-period moving averages remain in a bearish alignment.
Trading suggestion: Follow the trend and stay mainly short. On rebounds, short in batches at 4505 and 4530, targeting 4470 and 4450. Use brief fluctuations/short-term pullbacks around 4455 as opportunities to trade briefly; if price reaches resistance, exit promptly. Keep all positions light with tight risk controls and stop losses; strictly avoid chasing longs.
Disclaimer: The analysis above is for reference only and does not constitute investment advice. The market is risky—proceed with caution when entering trades.