6.5 Gold Morning Review: Rushing higher encounters resistance, oscillating and consolidating, short-term bears are dominant

Review of the market:
Last night’s initial jobless claims data was positive for gold prices, causing a short-term surge to a high of 4515. After profit-taking by bulls, gold prices quickly fell back, probing lower to 4424 during the session, then slightly rebounded at the end of the day, closing near 4475. The short-term rally triggered by news has been realized, and the correction after the sharp decline is lacking momentum, with the overall medium- to long-term bearish pattern unchanged.

Trend analysis:
U.S. stocks rose sharply, the market favors risk assets, and safe-haven buying in gold shrank, leading to a natural pullback after the price surged.
Technical aspect: The hourly and 30-minute KDJ indicators all turned downward, moving averages suppress the gold price from rising, and the rebound lacks strength.
Resistance: Short-term 4485-4515, strong resistance at 4535; support: Short-term 4468, key support at 4424. The overall short-term direction is bearish.

Coco’s suggestion:
Prioritize shorting during the day, short in batches around 4490 and 4510 on rebounds, targeting 4460 and 4450; lightly short on dips near 4455 to catch rebounds, and immediately take profit and exit when hitting upper resistance. Use full position or light position with stop-loss, strictly avoid blindly chasing the rise.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; enter cautiously.